Biggest drop in sales for Xiaomi ever
Xiaomi has not done well in the fourth quarter of 2022. It saw sales fall a record 22.8 percent compared to the same quarter a year earlier. Also when comparing the years 2021 and 2022, Xiaomi’s success appears to have declined. Sales fell 14.7 percent year over year.
Sales Xiaomi
Xiaomi achieved a turnover of 8.92 billion euros (66.05 billion yuan) in the fourth quarter of 2022, while it was still 11.56 billion euros (66.05 billion yuan) in that quarter in 2021. This decline has never been so severe, Reuters reports. In 2021, the total revenue was 328.3 billion yuan and in 2022 it was 280.044 billion yuan. So the company has some catching up to do.
Why this big drop? According to Xiaomi, the disappointing turnover is mainly due to the restrictions surrounding corona in China. In China, many factories have temporarily shut down and there were also many lockdowns for citizens. Xiaomi saw turnover fall in many areas: both in telephone sales and smart gadgets, but in the field of internet services turnover rose slightly.
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Redmi Note 12
Xiaomi has announced new phones in Europe this week, namely Redmi Note 12, Redmi Note 12 Pro and Redmi Note 12 Pro+. A wearable has also been announced, but the company mainly focuses on smartphones in the Dutch and Belgian markets. A flagship from Xiaomi is also expected this year that is a bit higher in price, as a successor to the Xiaomi 13.
It doesn’t look like Xiaomi is crawling out of this drop in revenue anytime soon: it thinks the whole of the first half of 2023 will still see declines. After that, however, it expects to start rising again. Although that also has everything to do with the successes in sales of Xiaomi smartphones and other products from the Chinese company.
