Q2 ‘23: Xiaomi: Soft in Asia Pacific
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Xiaomi’s smartphone shipments fell -16% YoY in Q2 2023. Though its performance improved from a quarter ago, Xiaomi still posted decline in most regions with its smartphone operations. Asia Pacific posted sharpest decline this quarter, blaming to Xiaomi’s soft performance in China, headwinds in India, and the intensified competition in other Asian markets. For a rebound in the second half of 2023, Xiaomi needs to stabilize its performance in Asia Pacific the sooner the better.
