Xiaomi Misses on China's Slowdown, Huawei Competition

Xiaomi is facing economic challenges due to China's slowdown, affecting its smartphone sales. The company is attempting to diversify into higher-margin areas like internet services and connected devices, but investor confidence remains low. Despite some growth in connected devices, Xiaomi struggles against competition from Huawei, which is increasing its market share in China. Xiaomi is responding by investing in offline retail to boost domestic sales.

What was the one bright spot for Xiaomi amidst its overall slowdown?

What strategies is Xiaomi employing to compete with cheaper options in the market?