Xiaomi Says EV Plans Running Ahead of Schedule Amid Revenue Drop Report

Chinese smartphone maker Xiaomi reported a 4 percent revenue drop in the second quarter, tracking a shrinkage in China's handset market, but said its move into making electric vehicles was running ahead of schedule. Sales dropped to CNY 67.4 billion (nearly Rs. 76,450 crore) from CNY 70.17 billion (nearly Rs. 80,650 crore) in the same quarter a year earlier.

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