China smartphone market perks up as sales of new Xiaomi model off to roaring start

Xiaomi's sales of more than 1 million units of its latest flagship smartphone in the week since its launch are a fresh sign that a slump in China's phone market could be nearing an end, analysts said. Demand in the world's biggest smartphone market has long been in decline, with the COVID-19 pandemic and then a faltering economic recovery persuading customers to wait longer before upgrading their phones. "Sales of the Mi 14 series have exceeded 1 million units and the phones are still in severe short supply," Xiaomi Chief Executive Lei Jun wrote on the microblogging platform Weibo this week.