Xiaomi’s Q3 earnings report shows slowing growth

Xiaomi,the world’s fourth largest smartphone vendor, on Wednesday reported a 3.3% revenue growth (QoQ) in the quarter that ended in September. While the results fell largely in line with analysts’ expectations, a drastic drop in the company’s growth underscores some of the struggles that handset makers are facing as they shift to services to make up for dwindling smartphone purchases globally.
The Chinese electronics firm posted Q3 revenue of 53.7 billion yuan, or $7.65 billion