Xiaomi profit slumps 43% on chip costs and weak EV margins
Xiaomi posted a 43% first-quarter net-profit slump as high memory-chip costs pressured its smartphone business, while its EV unit generated $2.8 billion in revenue but still dragged on earnings because of heavy investment and lower margins. #News #Reuters #Newsfeed #xiaomi #smartphone #ev #chips Read the story here: https://reut.rs/4uwYPdk ๐ Subscribe: https://reut.rs/4b8fRGn Keep up with the latest news from around the world: https://www.reuters.com/ Follow Reuters on Facebook: https://www.facebook.com/Reuters Follow Reuters on X: https://twitter.com/Reuters Follow Reuters on Instagram: https://www.instagram.com/reuters/?hl=en
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