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Early signs suggest China's economy will only rebound slowly, as consumers remain cautious about spending money despite an easing of restrictions on domestic and international<\/a> travel.
Xiaomi<\/a> group president Lu Weibing, speaking on a company earnings call, said China's consumer electronics was seeing early signs of a recovery at present but \"it will take time.\"
Year-on-year declines may continue in the first half of the year before a rebound occurs, he added.
Xiaomi's sales in the fourth quarter of 2022 reached 66.05 billion yuan ($9.6 billion), down 22.8% from 85.58 billion yuan a year earlier.
The numbers were slightly ahead of analyst expectations, but they mark the fourth consecutive revenue drop for the company, and its steepest on record yet.
Net income fell to 1.46 billion over the period, down 67.3% from 4.473 billion yuan a year earlier.
The company's revenue for 2022 was 280.04 billion yuan, a drop of 14.7%, while net income came in at 8.52 billion yuan, down 61.4%. Both figures fell short of analyst expectations.
SMARTPHONE SLUMP<\/strong>
Overall consumption in China dragged on most product categories in the fourth quarter, as the abrupt lifting of strict COVID-19 curbs led to a rapid spread in infections across the country.
All major smartphone brands experienced a sales slump in China over the period, based on research firm Canalys<\/a>. Xiaomi, however, took the largest hit with shipments dropping 37% year on year, the Canalys data showed.
China's smartphone sales endured a record fall in 2022, down 14% to 287 million units, Canalys data shows. That marked the first time in ten years shipments fell below 300 million units.
Xiaomi is also facing headwinds in India, where it failed to notice a rising consumer preference for higher-end devices<\/a> and ended up losing its position as the top-selling phone brand to South Korea's Samsung<\/a> in the fourth quarter.
The company, along with its rivals, could also face new security probes from Indian authorities due to national security concerns over pre-installed apps.
India is Xiaomi's largest overseas market and world's second biggest market for smartphones.
Xiaomi is also expanding into electric vehicles. The company said on Friday that it is \"on track\" to reach its goal of mass producing its first cars in the first half of 2024.
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早期迹象表明中国经济只会慢慢回升,消费者仍然谨慎花钱尽管宽松的国内和限制国际旅行。
小米集团总裁Lu Weibing公司财报电话会议上说,中国的消费电子产品目前看到复苏的早期迹象,但“这需要时间。”
同比下降可能在今年上半年继续出现反弹之前,他补充说。
小米在2022年第四季度的销售达到660.5亿元(96亿美元),较上年同期的855.8亿元减少22.8%。
的人数略高于分析师预期,但他们标志着连续第四公司的收入下降,和它的最大记录。
同期净利润降至14.6亿人,较上年同期的44.73亿元减少67.3%。
该公司2022年的收入是2800.4亿元,下降14.7%,而净利润为85.2亿元,下降61.4%。两组数据低于分析师预期。
智能手机的衰退
中国总体消费拖在大多数产品类别在第四季度,随着突然取消COVID-19作出严格限制导致全国迅速传播感染。
所有主要的智能手机品牌在中国经历了销售低迷时期,基于研究公司Canalys。然而,小米带着最大的打击出货量同比下降37%,Canalys数据显示。
中国2022年的智能手机销量经历了创纪录的下跌,下跌14%至2.87亿辆,Canalys数据显示。这标志着第一次十年发货量低于3亿辆。
小米在印度也面临阻力,未能注意到高端的消费偏好设备,最终失去其作为韩国最畅销的手机品牌的地位三星在第四季度。
公司,连同它的竞争对手,也可能面临新的安全探测从印度当局由于国家安全担忧预装应用程序。
印度是小米最大的海外市场,智能手机的全球第二大市场。
小米也正在扩展到电动车。该公司上周五表示,这是“正轨”达到首次大规模生产汽车的目标在2024年上半年。
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