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Xiaomi posts better-than-expected quarterly sales on growing smartphone shipments, as EV target remains on track

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Xiaomi posts better-than-expected quarterly sales on growing smartphone shipments, as EV target remains on track

Chinese smartphone and electric vehicle (EV) maker Xiaomi grew its first-quarter revenue by a better-than-expected 27 per cent year on year, as handset shipments recovered globally. Sales reached 75.5 billion yuan (US$10.5 billion) during the quarter ended March 31, beating the consensus analysts’ forecast of 73.5 billion compiled by Bloomberg. The world’s best-selling Chinese smartphone … Read more

China’s autonomous driving players struggle to turn a profit despite heavy investments

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China’s autonomous driving players struggle to turn a profit despite heavy investments

From Big Tech firms to start-ups, China’s autonomous-driving system developers are struggling to make noticeable gains in turning their vision of a future full of self-driving cars into steady profits. Banma Network Technologies, an intelligent vehicle start-up that develops technology for autonomous-driving systems, this week replaced its CEO Zhang Chunhui, who had served in the … Read more