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China tech

Xiaomi says chip shortage to 'fundamentally' ease in second half

World's No. 3 smartphone maker sets 2022 sales target of over 200m devices

Xiaomi believes that the global chip and component shortage will be resolved within the second half of this year. (Photo by Karina Nooka)

TAIPEI -- Top Chinese smartphone maker Xiaomi aims to ship more than 200 million phones in 2022 as it predicts the global chip and component shortage will "fundamentally" improve in the second half of the year.

"In the first quarter, the chip supply crunch is still challenging, but the situation will significantly improve in the second quarter, and such supply woes will be fundamentally solved and even revert in the second half of 2022," Xiaomi President Wang Xiang told a media briefing on Tuesday evening.

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