Friday, 24 March, 2023

Chip shortage has increased product costs at Xiaomi, may pass on to buyers

<p>Xiaomi President Wang Xiang said that the global chip shortage has raised the cost of the product and hinted that the company may pass on the price to its customer. &nbsp;&quot;We will continue to optimize the costs of our hardware devices, that&#39;s for sure,&quot; Xiang said during the Q4 earnings call. &quot;But sometimes, we may have to pass part of the cost increase to the consumer in different cases,&quot; he added. Xiaomi&#39;s&nbsp;YoY revenue increase by 24.8% in Q4, hitting $10.8 bn.</p>