Chinese Smartphone Maker Xiaomi’s Revenue and Profit Slides

This photograph shows the Xiaomi logo at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (AFP)
This photograph shows the Xiaomi logo at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (AFP)
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Chinese Smartphone Maker Xiaomi’s Revenue and Profit Slides

This photograph shows the Xiaomi logo at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (AFP)
This photograph shows the Xiaomi logo at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (AFP)

Chinese smartphone maker Xiaomi Corp on Friday reported a record drop in fourth-quarter revenue as the company weathered a slowdown in consumption and disruptions due to China's COVID-19 curbs.

Sales in the fourth quarter of 2022 reached 66.05 billion yuan ($9.6 billion), down 22.8% from 85.58 billion yuan a year earlier.

The numbers were slightly ahead of analyst expectations, but they mark the fourth consecutive revenue drop for the company, and its steepest on record yet.

Net income fell to 1.46 billion over the period, down 67.3% from 4.473 billion yuan a year earlier.

The company's revenue for 2022 was 280.04 billion yuan, a drop of 14.7%, while net income came in at 8.52 billion yuan, down 61.4%. Both figures fell short of analyst expectations.

Overall consumption in China dragged on most product categories in the fourth quarter, as the abrupt lifting of strict COVID-19 curbs led to a rapid spread in infections across the country.

All major smartphone brands experienced a sales slump in China over the period, based on research firm Canalys. Xiaomi, however, took the largest hit with shipments dropping 37% year on year, the Canalys data showed.



Elon Musk's AI Chatbot Grok Gets an Update, Starts Sharing Antisemitic Posts

xAI and Grok logos are seen in this illustration taken, February 16, 2025. REUTERS/Dado Ruvic/Illustration
xAI and Grok logos are seen in this illustration taken, February 16, 2025. REUTERS/Dado Ruvic/Illustration
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Elon Musk's AI Chatbot Grok Gets an Update, Starts Sharing Antisemitic Posts

xAI and Grok logos are seen in this illustration taken, February 16, 2025. REUTERS/Dado Ruvic/Illustration
xAI and Grok logos are seen in this illustration taken, February 16, 2025. REUTERS/Dado Ruvic/Illustration

Elon Musk's artificial intelligence company said Wednesday that it's taking down “inappropriate posts" made by its Grok chatbot, which appeared to include antisemitic comments that praised Adolf Hitler.

Grok was developed by Musk’s xAI and pitched as alternative to “woke AI” interactions from rival chatbots like Google’s Gemini, or OpenAI’s ChatGPT.

Musk said Friday that Grok has been improved significantly, and users “should notice a difference.”

Since then, Grok has shared several antisemitic posts, including the trope that Jews run Hollywood, and denied that such a stance could be described as Nazism.

“Labeling truths as hate speech stifles discussion,” Grok said.

It also appeared to praise Hitler, according to screenshots of a post that has now apparently been deleted.

“We are aware of recent posts made by Grok and are actively working to remove the inappropriate posts,” the Grok account posted early Wednesday, without being more specific.

"Since being made aware of the content, xAI has taken action to ban hate speech before Grok posts on X. xAI is training only truth-seeking and thanks to the millions of users on X, we are able to quickly identify and update the model where training could be improved.

Also Wednesday, a court in Türkiye ordered a ban on Grok after it spread content insulting to Turkish President and others.

The pro-government A Haber news channel reported that Grok posted vulgarities against Turkish President Recep Tayyip Erdogan, his late mother and well-known personalities. Offensive responses were also directed toward modern Türkiye's founder, Mustafa Kemal Atatürk, other media outlets said.

That prompted the Ankara public prosecutor to file for the imposition of restrictions under Türkiye's internet law, citing a threat to public order. A criminal court approved the request early on Wednesday, ordering the country’s telecommunications authority to enforce the ban.

It's not the first time Grok's behavior has raised questions.

Earlier this year the chatbot kept talking about South African racial politics and the subject of “white genocide” despite being asked a variety of questions, most of which had nothing to do with the country. An “unauthorized modification” was behind the problem, xAI said.