Chinese smartphone maker Xiaomi flagged rising costs from a global chip shortage and reported quarterly revenue below market estimates, even as its international business head jumped ship to TikTok owner ByteDance. Shares in Xiaomi Corp fell as much as 9% in early morning trading on Thursday, before paring losses to trade down 5%.
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Chinese smartphone maker Xiaomi flagged rising costs from a global chip shortage and reported quarterly revenue below market estimates, even as its international business head jumped ship to TikTok owner ByteDance. Shares in Xiaomi Corp fell as much as 9% in early morning trading on Thursday, before paring losses to trade down 5%.
Xiaomi flags rising costs of chips
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