The pandemic and sanctions against some Chinese technology companies gave rise to the issue of computer chip shortage that many companies are dealing with since last year. Xiaomi’s President Wang Xiang mentioned the fact that this global chip shortage is increasing the expenses for the company which in turn is increasing the cost of the products which customers have to bear.
He said “To be honest, we will do our best to offer the best price we can to consumers. But sometimes, we may have to pass part of the cost increase to the consumer in different cases,”.
Many other companies also have showed concern over this chip shortage issue, like Apple, AMD, Sony, and Qualcomm. Xiaomi said in a statement that in the fourth quarter of 2020, its revenue amounted to 70.5 billion yuan in the fourth quarter of 2020 which represented an increase of 24.8 per cent and an adjusted net profit of 3.2 billion yuan.
