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China’s Xiaomi Q4 2023 Revenue Rises 11%, Beats Estimates 

A visitor looks at a Xiaomi Mix Fold 3 model smartphone at its store at a shopping mall in Beijing on March 19, 2024. (AFP)
A visitor looks at a Xiaomi Mix Fold 3 model smartphone at its store at a shopping mall in Beijing on March 19, 2024. (AFP)
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China’s Xiaomi Q4 2023 Revenue Rises 11%, Beats Estimates 

A visitor looks at a Xiaomi Mix Fold 3 model smartphone at its store at a shopping mall in Beijing on March 19, 2024. (AFP)
A visitor looks at a Xiaomi Mix Fold 3 model smartphone at its store at a shopping mall in Beijing on March 19, 2024. (AFP)

Chinese smartphone maker Xiaomi reported a 10.9% rise in fourth-quarter revenue on Tuesday, boosted by strong smartphone sales in an industry showing signs of recovery.

Revenue reached 73.24 billion yuan ($10.17 billion) in October-December, versus the 73.17 billion yuan average of 15 analyst estimates compiled by LSEG.

Adjusted net profit rose 236.1% from the same period a year earlier to 4.9 billion yuan. That compared with the 3.89 billion yuan average analyst estimate.

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Russian Fines Google $78 mln for Ignoring Previous Penalties

The logo for Google is seen at a Google store in Manhattan, New York City, US, November 17, 2021. REUTERS/Andrew Kelly
The logo for Google is seen at a Google store in Manhattan, New York City, US, November 17, 2021. REUTERS/Andrew Kelly
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Russian Fines Google $78 mln for Ignoring Previous Penalties

The logo for Google is seen at a Google store in Manhattan, New York City, US, November 17, 2021. REUTERS/Andrew Kelly
The logo for Google is seen at a Google store in Manhattan, New York City, US, November 17, 2021. REUTERS/Andrew Kelly

A Russian court fined Alphabet's Google 8 billion roubles ($77.9 million) on Tuesday for not complying with previous penalty orders, the Moscow courts press service said on Telegram.

Russia has for several years ordered foreign technology platforms to remove content it deems illegal, issuing small but persistent fines when it sees failures to comply. Tuesday's fine marked a significant increase on fines of around 4 million roubles that are usually levied.

The Chertanovo District Court in Moscow said Tuesday's fine had been issued for Google's failure to comply with an administrative punishment. It did not specify which administrative offence the fine was in relation too, Reuters reported.

YouTube has drawn particular ire for hosting content Moscow objects to. The video platform used to attract around 50 million daily users in Russia, but those numbers have dropped to around 12 million, according to Google data.

Critics accuse the Russian authorities of

deliberately disrupting

YouTube's download speeds to prevent Russians from viewing content there that is opposed to President Vladimir Putin and his government.

Russia denies that, saying the issues are caused by Google's failure to upgrade equipment - a charge disputed by the company and technology experts.

Putin in December accused Google of being a tool used by the US government to score political points.