In a big surprise for Xiaomi due to lack of demand for smartphones, revenue fell by more than 18 percent

Chinese consumer electronics company Xiaomi’s revenue fell 18.9 percent in the first quarter. Weak demand for smartphones has had a major impact on the company’s earnings. The company’s sales in the first quarter stood at CNY 59.5 billion (about Rs 4,91,900 crore). This is up from CNY 73.35 billion (about Rs 6,06,400 crore) in the … Read more

Big blow to Samsung, 95 percent reduction in profit

There has been a big drop in profits from South Korean smartphone and electronics company Samsung. The company said declining sales due to reduced consumer spending and high supply of microchips were the main reasons. It is one of the largest manufacturers of smartphones and memory chips in the world. Samsung’s operating profit declined to … Read more

Samsung’s profit is expected to decrease by 92 percent, due to the economic slowdown

South Korea’s Samsung Electronics may have experienced a 92 percent drop in profits in the first quarter. This could be the company’s lowest profit in the last 14 years. The economic slowdown has had a huge impact on companies. Samsung has suffered further due to reduced purchases of memory chips by data centers and computer … Read more