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Xiaomi’s $120 Billion Gain Faces Scrutiny on Smartphone Slowdown

News Snapshot:

Investors anxiously await an earnings report from Xiaomi Corp., following a rally that has driven its market value up $120 billion in the past year on excitement over its push into electric vehicles. Concerns are growing over the Chinese technology company’s core smartphone operation, which is expected to post a major slowdown in growth and narrower margins in quarterly results due later Tuesday. Xiaomi may also face questions over its EV business, where capacity issues have constrained its ability to keep up with strong Bloomberg Terminal demand.

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