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| Xiaomi promises that the phone market will soon recover |
Chinese smartphone maker Xiaomi said on Tuesday that China has returned to normal after the ban on Coronavirus 19 (COFID-19) COVID-19, a sign of a rebound in Chinese sales.
"The (Chinese) market has fully recovered from 80% to 90%," said Xu Zizhou, chief financial officer. He added that sales in China fell somewhat in the first quarter due to the economic impact of the virus, but he did not reveal the exact number.
Zhou said: He expects global demand for smartphones to be flexible, even if the virus spreads to other countries. He also said that the company's global sales would be affected in March and April, but he expected signs of a recovery in May.
On Tuesday, Xiaomi announced that sales increased 27% between October and December last year, beating analysts' expectations. Revenue in the fourth quarter of 2019 was approximately $ 8 billion, compared to $ 6.28 billion in the same period in 2018. 60% of this revenue comes from the wireless industry.