Xiaomi posted a soft quarter in Q4 2022. The Chinese vendor shipped 33.2 million units of smartphones globally, down -26% YoY. It is the fourth consecutive quarter that the vendor posted annual decline.
In addition to the mixed consumer demand, unfavourable economic conditions, and COVID-19 disruptions – the headwinds that the whole industry is facing, Xiaomi suffered greatly from inventory corrections which in turn dragged down its shipment performance significantly this quarter, especially in India and in China.
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