The Chinese electronic device manufacturer Xiaomi closed the first quarter of 2022 with an attributed net loss of 587.6 million yuan (82.8 million euros), compared to profits of 7,792.9 million yuan (1,097.7 million euros) from the same period last year, as indicated by the company this Thursday when publishing its income statement.
The turnover between January and March was 73,351.5 million yuan (10,332.1 million euros), 4.6% less. By business segment, the mobile phone division contracted by 11.1%, to 45,762.7 million yuan (6,446 million euros), while the rest of electronic products accounted for revenues of 19,477.4 million (2,743, 5 million euros), 6.8% more.
The turnover from advertising and other Internet services provided by Xiaomi was 7,112.5 million (1,001.9 million euros) during the first three months of the year, 8.2% more.
The costs associated with sales fell by 3.3%, to 60,641.8 million (8,541.8 million euros), while sales and marketing expenses grew by 26.2%, and administrative expenses stood at 1,244 .8 million (172.5 million euros), 26% more. The item of research and development (R&D) rose by 16%, to 3,494.5 million (492.2 million euros).
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