Xiaomi’s Q1 revenue falls 4.6% due to COVID, supply chain disruptions

A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. REUTERS/Francis Mascarenhas

SHENZHEN, China, May 19 (Reuters) – Chinese smartphone maker Xiaomi Corp (1810.HK) reported a fall in first-quarter revenue as COVID-19 controls and lockdowns bit into demand in China while broader economic headwinds affected sales overseas.

Revenue in the quarter ending March 31 dropped to 73.35 billion yuan ($10.85 billion) from 76.88 billion and fell short of the 74.3 billion expected by analysts, Refinitiv data showed.

($1 = 6.7594 Chinese yuan renminbi)

Reporting by David Kirton; editing by Jason Neely

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