Consumer Tech
Xiaomi Sales Grow Slowest in Years Despite Strong EV Demand
Xiaomi’s smartphone business is getting hit by higher memory prices.
Photographer: Na Bian/BloombergXiaomi Corp. posted its slowest quarterly growth since 2023, after strong sales of its EVs failed to make up for slumping smartphone demand.
Sales rose 7.3% to 116.9 billion yuan ($17 billion) in the December quarter, just edging past the average estimate of 116.3 billion yuan. The Beijing-based company shipped 145,115 cars in the period, more than doubling from a year ago, getting a boost from a sports utility vehicle it launched last summer.