China's smartphone market is growing as the new Xiaomi model is selling like crazy

Analysts suggest that Xiaomi's sale of over 1 million units of its latest flagship smartphone within a week of its release indicates a potential turnaround in the declining Chinese phone market. The smartphone market in the world's largest market has been shrinking due to factors like the COVID-19 pandemic and a slow economic rebound, which have led customers to delay their phone upgrades.

Xiaomi's CEO Lei Jun announced on Weibo that the Mi 14 series has sold over 1 million units and is still facing significant shortages. These phones were released in China on October 31 and feature Qualcomm's advanced Snapdragon 8 Gen 3 processor and Xiaomi's HyperOS software.

Analyst Will Wong from IDC noted that this strong launch indicates...


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