Xiaomi reports Q3 revenue rose 8% YoY to $12.2B as net income dropped 84% YoY to $123.5M, driven by component shortages and growing competition in China (Bloomberg)

Bloomberg:
Xiaomi reports Q3 revenue rose 8% YoY to $12.2B as net income dropped 84% YoY to $123.5M, driven by component shortages and growing competition in China  —  Xiaomi Corp.'s quarterly sales growth slowed sharply after component shortages and growing competition in China dealt a heavy blow to the smartphone maker.