Smartphone maker Xiaomi says China sales already close to full recovery

Chinese smartphone maker Xiaomi Corp is seeing signs of a sales recovery in China, it said on Tuesday, as the country starts to return to normal following the coronavirus lockdown.
“The (Chinese) market has entered a full recovery stage, and… has already recovered to 80 to 90% of the normal level,” Chief Financial Officer Shou Zi Chew said on an earnings call.
He said sales in China fell in the first quarter due to the economic impact of the virus, but did not say by how much.
Chew said he expected demand for smartphones to be resilient globally even though the virus was spreading to other countries. The company will take a hit in global sales during March and April, he said, but expects to see signs of recovery in May.