trade restrictions: This came as it lost its market share to Huawei and customers held on to their current phones before a 5G overhaul, according to Global Times China. Xiaomi's stock, which has nearly halved from its IPO price, was down 6 percent during afternoon trading on Wednesday. Photo IC Chinese smartphone maker Xiaomi Corp posted its slowest revenue growth as a public company, missing analysts' estimates. China's smartphone market, the world's largest, is shrinking but consumers there are rallying in support of Huawei as it battles its US trade restrictions. Globally, the smartphone market shrank 2.3 percent in the same period, according to research firm IDC. Xiaomi, which debuted its shares in July last year, said on Tuesday that it failed to increase smartphone shipments, which stood at 32 million, in the second quarter. Xiaomi's market share in China declined by a fifth in the April to June quarter, even as Huawei's share surged by 31 percent, according to research firm Canalys.
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