Xiaomi and other Chinese smartphone companies cut shipment targets by 30 percent

Xiaomi (1810), Oppo, and Vivo are among the Chinese smartphone companies to slash their shipment targets by 30 percent this year as the market braces for rising production costs and persistent component shortages, Nikkei Asia reported.

Major brands' revised forecasts are weak, with Xiaomi reducing its annual shipment target by 30 percent to roughly 95 million units. The company has cautioned suppliers that further downward revisions may follow if supply chain strains persist.

In addition, Oppo and Vivo revised their annual shipment targets to below 90 million units each. Another smartphone company, Honor, which set a record high of 71 million units shipped last year, has informed suppliers that it will be difficult to maintain its growth momentum this year.
 

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