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Cybersecurity

Twitch expands monetisation tools to more streamers

Twitch is expanding its monetisation tools, allowing more streamers to earn through subscriptions and Bits while improving mobile features.

Meta cracks down on leaks, fires 20 employees

Meta has fired around 20 employees for leaking confidential information following an investigation into reports exposing internal meetings and plans.

Meta prepares to launch a separate app for its AI assistant

Meta is reportedly developing a standalone AI chatbot app and testing a paid subscription model to expand its AI offerings.

Passport-free travel and the future of global airport security

Discover how biometric technology is transforming global airport security, streamlining travel, and addressing challenges in a passport-free future.

Instagram is considering creating a Reels app to compete with TikTok

Instagram may launch a separate Reels app to compete with TikTok amid ongoing challenges for TikTok in the US.

Marketing

Twitch expands monetisation tools to more streamers

Twitch is expanding its monetisation tools, allowing more streamers to earn through subscriptions and Bits while improving mobile features.

Meta cracks down on leaks, fires 20 employees

Meta has fired around 20 employees for leaking confidential information following an investigation into reports exposing internal meetings and plans.

Meta prepares to launch a separate app for its AI assistant

Meta is reportedly developing a standalone AI chatbot app and testing a paid subscription model to expand its AI offerings.

Passport-free travel and the future of global airport security

Discover how biometric technology is transforming global airport security, streamlining travel, and addressing challenges in a passport-free future.

Instagram is considering creating a Reels app to compete with TikTok

Instagram may launch a separate Reels app to compete with TikTok amid ongoing challenges for TikTok in the US.

Southeast Asia

Twitch expands monetisation tools to more streamers

Twitch is expanding its monetisation tools, allowing more streamers to earn through subscriptions and Bits while improving mobile features.

Meta cracks down on leaks, fires 20 employees

Meta has fired around 20 employees for leaking confidential information following an investigation into reports exposing internal meetings and plans.

Meta prepares to launch a separate app for its AI assistant

Meta is reportedly developing a standalone AI chatbot app and testing a paid subscription model to expand its AI offerings.

Passport-free travel and the future of global airport security

Discover how biometric technology is transforming global airport security, streamlining travel, and addressing challenges in a passport-free future.

Instagram is considering creating a Reels app to compete with TikTok

Instagram may launch a separate Reels app to compete with TikTok amid ongoing challenges for TikTok in the US.

Geek

Aetherdrift brings high-speed action to Magic: The Gathering fans

MTG's Aetherdrift brings high-speed action, new mechanics, and exclusive collectibles in an epic multiverse race starting 7 February.

Crunchyroll and Sony partners unveil anime adaptation of Ghost of Tsushima: Legends

Crunchyroll, Aniplex, and Sony partners reveal Ghost of Tsushima: Legends anime adaptation, set for a 2027 release exclusively on Crunchyroll.

Evangelion store marks two decades with new merchandise and an anniversary fair

Celebrate 20 years of EVANGELION with exclusive merchandise and special gifts at the anniversary fair, only at the EVANGELION STORE.

AmiAmi launches on Shopee Singapore, bringing exclusive Japanese collectibles to fans

Japanโ€™s top hobby retailer AmiAmi debuts on Shopee Singapore, offering exclusive collectibles and Japanese pop culture merchandise to fans.

Crunchyroll Anime Awards to return to Tokyo on 25 May 2025

The Crunchyroll Anime Awards returns to Tokyo on 25 May 2025 with updated eligibility, new categories, and global livestream. Nominees out 3 April.

Hot topics

Going elsewhere?

25.6 C
Singapore
21.8 C
Malaysia
29.4 C
Thailand
26 C
Philippines
20 C
Indonesia
17.5 C
Vietnam
25.2 C
Cambodia
15.6 C
Myanmar

Cybersecurity

Twitch expands monetisation tools to more streamers

Twitch is expanding its monetisation tools, allowing more streamers to earn through subscriptions and Bits while improving mobile features.

Meta cracks down on leaks, fires 20 employees

Meta has fired around 20 employees for leaking confidential information following an investigation into reports exposing internal meetings and plans.

Meta prepares to launch a separate app for its AI assistant

Meta is reportedly developing a standalone AI chatbot app and testing a paid subscription model to expand its AI offerings.

Passport-free travel and the future of global airport security

Discover how biometric technology is transforming global airport security, streamlining travel, and addressing challenges in a passport-free future.

Instagram is considering creating a Reels app to compete with TikTok

Instagram may launch a separate Reels app to compete with TikTok amid ongoing challenges for TikTok in the US.

Marketing

Twitch expands monetisation tools to more streamers

Twitch is expanding its monetisation tools, allowing more streamers to earn through subscriptions and Bits while improving mobile features.

Meta cracks down on leaks, fires 20 employees

Meta has fired around 20 employees for leaking confidential information following an investigation into reports exposing internal meetings and plans.

Meta prepares to launch a separate app for its AI assistant

Meta is reportedly developing a standalone AI chatbot app and testing a paid subscription model to expand its AI offerings.

Passport-free travel and the future of global airport security

Discover how biometric technology is transforming global airport security, streamlining travel, and addressing challenges in a passport-free future.

Instagram is considering creating a Reels app to compete with TikTok

Instagram may launch a separate Reels app to compete with TikTok amid ongoing challenges for TikTok in the US.

Southeast Asia

Twitch expands monetisation tools to more streamers

Twitch is expanding its monetisation tools, allowing more streamers to earn through subscriptions and Bits while improving mobile features.

Meta cracks down on leaks, fires 20 employees

Meta has fired around 20 employees for leaking confidential information following an investigation into reports exposing internal meetings and plans.

Meta prepares to launch a separate app for its AI assistant

Meta is reportedly developing a standalone AI chatbot app and testing a paid subscription model to expand its AI offerings.

Passport-free travel and the future of global airport security

Discover how biometric technology is transforming global airport security, streamlining travel, and addressing challenges in a passport-free future.

Instagram is considering creating a Reels app to compete with TikTok

Instagram may launch a separate Reels app to compete with TikTok amid ongoing challenges for TikTok in the US.

Geek

Aetherdrift brings high-speed action to Magic: The Gathering fans

MTG's Aetherdrift brings high-speed action, new mechanics, and exclusive collectibles in an epic multiverse race starting 7 February.

Crunchyroll and Sony partners unveil anime adaptation of Ghost of Tsushima: Legends

Crunchyroll, Aniplex, and Sony partners reveal Ghost of Tsushima: Legends anime adaptation, set for a 2027 release exclusively on Crunchyroll.

Evangelion store marks two decades with new merchandise and an anniversary fair

Celebrate 20 years of EVANGELION with exclusive merchandise and special gifts at the anniversary fair, only at the EVANGELION STORE.

AmiAmi launches on Shopee Singapore, bringing exclusive Japanese collectibles to fans

Japanโ€™s top hobby retailer AmiAmi debuts on Shopee Singapore, offering exclusive collectibles and Japanese pop culture merchandise to fans.

Crunchyroll Anime Awards to return to Tokyo on 25 May 2025

The Crunchyroll Anime Awards returns to Tokyo on 25 May 2025 with updated eligibility, new categories, and global livestream. Nominees out 3 April.
Saturday, 1 March 2025
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Xiaomi records significant growth in Q1 2024

Xiaomi's Q1 2024 results show significant growth with record revenue and profits, driven by its smartphone, IoT, and smart EV sectors, as it continues to expand globally.

Xiaomi Corporation, a major consumer electronics and smart manufacturing player, has reported a significant year-on-year (YoY) growth in its financial results for the first quarter of 2024. With its roots in smartphones and smart hardware integrated via an Internet of Things (IoT) platform, the companyโ€™s unaudited consolidated results showcased a robust growth trajectory, with revenue and net profits substantially increasing.

Record profits and revenue growth driven by diverse sectors

Xiaomiโ€™s total revenue for the March 31, 2024 quarter reached RMB 75.5 billion (US$10.4 billion), marking a 27% increase YoY. The adjusted net profit for the company surged by an impressive 100.8% to RMB 6.5 billion (US$897 million), despite RMB 2.3 billion (US$317 million) in expenses related to its new smart Electric Vehicle (EV) business and other initiatives. This growth was attributed to Xiaomiโ€™s strategy focusing on both scale and profitability, which saw the gross profit margin climb to 22.3%, up by 2.8 percentage points from the previous year.

The companyโ€™s core business areas, including smartphones, IoT and lifestyle products, and internet services, experienced double-digit revenue growth. Xiaomiโ€™s strategic advancements in the smart EV sector were particularly noteworthy, contributing significantly to the companyโ€™s overall performance.

Strategic advancements in smartphone and IoT sectors

Xiaomiโ€™s smartphone segment continued to excel, with global shipments increasing by 33.7% to 40.6 million units. This growth was supported by Xiaomiโ€™s push into premium markets, with the average selling price of its smartphones rising. According to market analysis firm Canalys, the company has consistently held a top-three position globally in smartphone shipments for over three years.

In the IoT and lifestyle products sector, Xiaomi reported a historic revenue increase to RMB 20.4 billion (US$2.81 billion), up 21% YoY. This segmentโ€™s gross profit margin reached a record high of 19.9%, demonstrating strong momentum in Xiaomiโ€™s smart large home appliances, which saw significant sales increases across air conditioners, refrigerators, and washing machines.

Expansion in internet services and smart EV initiatives

Internet services also saw a remarkable uptick, with revenues hitting a record RMB 8.0 billion (US$1.12 billion), a 14.5% increase YoY. The gross profit margin in this sector reached 74.2%, with user engagement at an all-time high โ€” global monthly active users (MAU) surged to 658.1 million.

The launch of Xiaomiโ€™s first smart EV, the Xiaomi SU7 Series, marked a milestone in the companyโ€™s expansion into the automobile industry. This vehicle introduction set a new industry record for rapid delivery, with over 10,000 vehicles delivered shortly after its release. Xiaomi has set an ambitious target of delivering over 100,000 new vehicles by the end of 2024.

Xiaomi continues to invest heavily in research and development, particularly in smart EV technology and autonomous driving capabilities. The companyโ€™s commitment to innovation remains strong, and it plans to significantly extend its sales and service network by the end of the year.

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Amazon launches dedicated website and app for Alexa Plus

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