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Smartphone maker Xiaomi sees first-quarter coronavirus hit, recovery after – Source Reuters Tech News

SHANGHAI (Reuters) – Chinese smartphone maker Xiaomi Corp expects a hit to first-quarter sales from the disruption caused by the coronavirus outbreak, but believes demand will bounce back in the second and third quarters, its CEO said on Thursday.

FILE PHOTO: Xiaomi founder and CEO Lei Jun attends a product launch event of Xiaomi Mi9 Pro 5G in Beijing, China September 24, 2019. REUTERS/Jason Lee

Lei Jun made the comments during a launch event for Xiaomi’s new Mi 10 flagship line of smartphones, which was livestreamed due to nationwide restrictions on travel and large gatherings.

“This year’s first quarter smartphone sales will face an impact, but we believe that in the second and third quarters they will strike back,” Lei said of the coronavirus impact.

During an online Q&A session, Lei said that while the company’s capacity and stock was sufficient, deliveries in the coming two weeks might be affected as many factories in China could not resume work until Feb. 10.


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Source Reuters Tech News

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