[Xiaomi posts 20pct revenue fall, hurt by China COVID curbs] China’s Xiaomi Corp posted a steep drop in second quarter revenue on Friday as the world’s biggest smartphone market shrank, hit by strict COVID restrictions. Sales fell 20 percent year-on-year to 70.17 billion yuan ($10.31 billion), missing estimates and marking a steeper decline from the previous quarter when the company posted its first revenue drop since listing. Net income fell 67 percent to 2.08 billion yuan, also missing analysts’ estimates. “In the Chinese market, there was the resurgence of the pandemic, so as a result, demand was difficult and weak,”...