Chinese phone maker Xiaomi released its first-quarter financial report on Wednesday, revealing a total revenue of RMB 59.5 billion ($8.4 billion), an 18.9% year-on-year decrease. According to market analyst firm Canalys, global smartphone shipments in the first quarter experienced a significant 13.3% year-on-year decline, representing the lowest first-quarter shipment levels since 2014…
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