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Xiaomi beats estimates with 21.4% rise in Q4 revenue

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  • Xiamoi’s Revenue hits 85.58 billion yuan, up 21.4% y/y.
  • Net profit reaches 39.47 billion yuan, up 36.6% y/y.
  • Smartphone shipments total 44.1 million units, up 4.4% y/y.

SHANGHAI: Chinese smartphone maker Xiaomi on Tuesday reported a bigger-than-expected 21.4% rise in fourth-quarter revenue, as industry shipments of handsets slowly tick up following a global chip shortage and the peak of the pandemic.

“In 2021 we experienced a very complex situation,” Xiaomi president Wang Xiang said in an earnings call.

“Supply is in a very severe or tight position, and there is a geopolitical impact. However, Xiaomi’s performance has shown we are a resilient company.”

Revenue rose to 85.58 billion yuan ($13.45 billion) in the quarter ended Dec. 31, compared with 70.46 billion yuan in the year earlier period and analyst expectations for 81.80 billion yuan, according to Refinitiv data.

Smartphone shipments rose 4.4% to 44.1 million units in the quarter, Xiaomi said in a statement.

Net income rose 39.6% to 4.47 billion yuan, also above analyst expectations.

In an earnings call, Wang said that ensuring a steady supply of chips was still challenging in the first quarter of 2022, but expected the situation to improve by June.

The company, which gets the vast majority of its revenue from selling mobile handsets, said smartphone revenue rose 18.4% to 50.5 billion yuan ($7.94 billion) in the quarter ended December 31.

Last year, Xiaomi grabbed market share in its home market China away from Huawei, which lost its smartphone momentum after the United States placed export restrictions on its suppliers. But Huawei spinoff Honor came back strong in the second half of 2021, finishing the fourth quarter with a 16% market share in China — the same as Xiaomi — according to data from Canalys.

Xiaomi’s fourth-quarter smartphone shipments in China rose 10%, according to research firm Canalys. Globally, its shipments rose 5%.

Slowing handset demand in China, the company’s largest market, has prompted Xiaomi to look for new opportunities.

The company is slated to invest $10 billion over the next ten years into making electric cars, which it hopes to bring to market by 2024.

The company has also ramped up investments in chips, relasing its first device with a self-developed image signal processor.

Wang said that investments in chips would go into areas “directly related to user experience,” such as fast charging.

Xiaomi has also expanded its brick-and-mortar retail footprint, in hopes of attracting more customers.

Xiaomi reported a 33.5% rise in 2021 revenue, which hit 328.3 billion yuan ($51.59 billion), versus an average analyst estimate of 325.862 billion yuan.

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Moon train operations are planned by NASA.

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The goal is to construct the first lunar train system, which will enable safe, independent, and effective cargo transportation on the moon, according to robotics specialist Ethan Schaler of NASA’s Jet Propulsion Laboratory in Pasadena, California.

He went on, “The day-to-day functioning of a sustainable lunar base in the 2030s will depend heavily on a robust, long-lasting robotic transport system.”

The Flexible Levitation on a Track, or FLOAT, is the name of the proposed lunar rail system. According to NASA, the establishment of a railway system on the moon is “critical to the daily operations.”

According to the space agency, the primary objective of FLOAT is to offer transportation services in regions of the moon where astronauts are engaged in activities. To do this, cargoes of lunar soil and other materials will need to be transported to various regions of the moon.

Each robot will be able to transport cargo of various sizes and shapes at a pace of roughly 1 mph (1.61 km/h), according to Dr. Schaler.

Notably, NASA also declared new initiatives last month to create and test new vehicle models intended for moon exploration.

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Business

Pakistan’s lunar mission ‘ICUBE-Q’ reaches the moon orbit.

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Pakistan’s lunar mission (ICUBE-Q) entered orbit around the moon on Wednesday.

Pakistan’s historic lunar mission (ICUBE-Q) launched from Hainan, China, on Friday aboard China’s Chang’E6 spacecraft.

According to the IST, the satellite ICUBE-Q was planned and developed in partnership with China’s Shanghai University SJTU and Pakistan’s national space agency SUPARCO.

The ICUBE-Q orbiter is equipped with two optical cameras to image the lunar surface. ICUBE-Q has now been integrated into the Chang’e6 mission after successfully qualifying and testing it.

Chang’e6 is the sixth lunar exploration mission launched by China.

The launch event was streamed live on the IST website and social media platforms. Chang’6, China’s Lunar Mission, will land on the Moon’s far side to collect surface samples before returning to Earth for further research.

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Education

The establishment of IT labs in Islamabad’s educational establishments

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SIFC was established to improve the ease of doing business for potential investors through a “Whole of Government”Approach”—achieving optimal horizontal-vertical synergy and facilitation by the Pakistan Army—and to attract investments from friendly countries in selected sectors through an empowered organisation that serves as a “single-window” platform for facilitation.

The children will learn the newest skills in these state-of-the-art IT labs, expanding their employment prospects.

These IT laboratories will be constructed in sixteen degree colleges spread throughout various parts of Islamabad.

Students will take six-month courses in artificial intelligence (AI), game development, data science, and block chain in these IT labs.

Approximately 1,000 students will have access to courses in the first phase, which is being implemented in response to market demand.

The National Vocational and Technical Training Commission has worked with esteemed universities such as NUST, National Skills University, COMSATS, and NUML to produce these courses.

The second week of this month will mark the start of these classes. For these courses, about 3,600 students have signed up.

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