Latest news with #BrendaGoh
Reuters
3 days ago
- Business
- Reuters
Robots
Follow on Apple or Spotify. Listen on the Reuters app. There's a global race for robot supremacy. From Shanghai to Silicon Valley, companies are trying to develop humanoids that can take on physical work. China is emerging as a major player thanks to abundant government support. Host Carmel Crimmins talks to Brenda Goh, Reuters bureau chief in Shanghai, and Anna Tong, Reuters technology correspondent in San Francisco, about the drive for humanoid labor. Plus, how to train your robot. For information on our privacy and data protection practices visit the Thomson Reuters Privacy Statement. You may also visit to opt out of targeted advertising. Further Listening Budget deficits Coffee Critical Minerals
Time of India
6 days ago
- Automotive
- Time of India
Xiaomi reports record first-quarter revenue as it launches new electric SUV
By Che Pan and Brenda Goh BEIJING: China's Xiaomi on Tuesday reported record first-quarter revenue and profit, as the company said its ongoing shift towards higher-end products from smartphones to home appliances was already paying off. Revenue for the quarter ended March 31 was 111.3 billion yuan ($15.48 billion), up 47% year-on-year and beating the 107.6 billion yuan average of 17 analyst estimates compiled by LSEG. Adjusted net profit rose above 10 billion yuan for the first time, jumping 65% year-on-year to 10.7 billion yuan, ahead of the average estimate of 8.96 billion yuan, according to LSEG data. Xiaomi President Lu Weibing told a conference call with reporters that Xiaomi's strategy to focus on high-end products had yielded positive results. The world's third-largest smartphone maker, whose product lines also extend to cars, announced its latest electric SUV, the YU7, last week, which it will start selling in July. Lu said feedback on the YU7 indicated it could have a broader target market than its previous model, the SU7. The company did not disclose the price of the YU7 but suggested its better configurations should make the car 60,000-70,000 yuan more expensive than Tesla's best-selling Model Y, which is expected to be its strongest competitor and is priced from 263,500 yuan ($36,574). Xiaomi's EV business generated 18.1 billion yuan in revenue during the first quarter, delivering 75,869 SU7 sedans. It posted an adjusted net loss related to its EV and other new initiatives of 0.5 billion yuan. Its new EV orders have fallen since a fatal highway crash at the end of March involving an SU7 in driving-assistance mode, analysts have said. Its problems have been compounded by customer complaints of false advertising. Xiaomi apologised earlier this month for "not clear enough" marketing. Still, the company's shares have rebounded since April, giving it a market value of about $170 billion, higher than the roughly $161 billion commanded by BYD , China's biggest EV maker, LSEG data show. Xiaomi's first-quarter global smartphone shipments rose 3% from a year earlier to 41.8 million handsets, ranking it third globally, with a market share of 14.1%, according to its latest financial report citing data from researcher Canalys.
Yahoo
7 days ago
- Automotive
- Yahoo
Xiaomi reports 47% revenue growth in Q1 as it launches new electric SUV
By Che Pan and Brenda Goh BEIJING (Reuters) -China's Xiaomi reported a 47.4% annual jump in first-quarter revenue on Tuesday as the company doubled down on making electric vehicles. Revenue for the quarter ended March 31 was 111.3 billion yuan ($15.48 billion), beating the 107.6 billion yuan average of 17 analyst estimates compiled by LSEG. Adjusted net profit jumped 64.5% year-on-year to 10.7 billion yuan, ahead of the average estimate of 8.96 billion yuan, according to LSEG data. The world's third-largest smartphone maker, whose product lines extend to home appliances and cars, announced its latest electric SUV, the YU7, last week, which Xiaomi will start selling in July. Xiaomi did not disclose the price of the YU7 but suggested its better configurations should make the car 60,000-70,000 yuan more expensive than Tesla's best-selling Model Y, which is expected to be its strongest competitor and is priced from 263,500 yuan ($36,574). Xiaomi entered the auto sector last year with its sporty EV SU7, which drew styling cues from Porsche and was priced below Tesla's Model 3. Since December, the SU7 has outsold Tesla's Model 3 in China on a monthly basis. Xiaomi's SU7 deliveries have exceeded 258,000 units since its launch, company founder Lei Jun said last week. Xiaomi's EV business generated 18.1 billion yuan in revenue during the first quarter, delivering 75,869 SU7 sedans. The adjusted net loss related to its EV and other new initiatives reached 0.5 billion yuan. The company's new EV orders have fallen following a fatal highway crash at the end of March involving an SU7 in driving-assistance mode，analysts have said. Its problems have been compounded by customer complaints of false advertising. Xiaomi apologised earlier this month for "not clear enough" marketing. Still, Xiaomi's shares have rebounded since April, giving it a market value of about $170 billion, higher than the roughly $161 billion commanded by BYD, China's biggest EV maker, LSEG data show. ($1 = 7.1920 Chinese yuan renminbi)
Yahoo
7 days ago
- Automotive
- Yahoo
Xiaomi reports 47% revenue growth as its launches new electric SUV
By Che Pan and Brenda Goh BEIJING (Reuters) -China's Xiaomi reported a 47.4% jump in first-quarter revenue on Tuesday as the company doubled down on making electric vehicles. Revenue for the quarter ended March 31 was 111.3 billion yuan ($15.48 billion), beating the 107.6 billion yuan average of 17 analyst estimates compiled by LSEG. Adjusted net profit jumped 64.5% year-on-year to 10.7 billion yuan, ahead of the average estimate of 8.96 billion yuan, according to LSEG data. ($1 = 7.1920 Chinese yuan renminbi) Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
China's Lenovo reports 64% profit decline in fourth quarter
By Che Pan and Brenda Goh BEIJING (Reuters) -China's Lenovo, the world's largest personal computer manufacturer, on Thursday reported a worse-than-expected 64% fall in fourth-quarter profit, which it said was mostly due to a non-cash decline in the value of warrants. Lenovo reported revenue of $16.98 billion for the quarter ended March 31, which exceeded analysts' expectations of $15.6 billion, LSEG data showed. Net profit to the company's owners came in at $90 million, well short of the average analyst estimate of $225.8 million, according to LSEG data. Lenovo launched its first AI-powered PCs in China last May and followed that with a global rollout in September. CEO Yang Yuanqing has projected that AI PCs will account for a quarter of Lenovo's shipments by 2025, potentially reaching 80% by 2027. The company has integrated technology from Chinese startup DeepSeek - which has upended the AI sector with its low-cost model - into its devices, including PCs and tablets. Lenovo's infrastructure solutions group, which includes servers, posted a 64% revenue increase in the March quarter compared with the previous year. The solutions and services group, which offers cloud-based software for enterprise clients, reported $2.2 billion in revenue, up 22% from a year earlier. Lenovo's Hong Kong-listed shares dropped 2.08% after the earnings release. They have dipped 1.69% for the year to date.
