Jul 7, 2017

China's Xiaomi reverses slide, posts record quarter for phone sales


After two years of slumping sales, China's Xiaomi said Friday that it shipped a record 23 million smartphones last quarter. That's up 70 percent from the prior quarter.

"This is a truly significant milestone for Xiaomi," CEO Lei Jun said in a statement. He also said that he is confident the company can reach its revenue goal of 100 billion Chinese yuan ($14.7 billion) for the year and said Xiaomi is aiming to ship 100 million phones in 2017.

Why it matters: As Lei Jun pointed out in his letter, the smartphone business tends to be unforgiving. Companies that see a slump tend not to recover. (Think BlackBerry, Nokia, HTC, etc.)

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Netanyahu says July 1 deadline for West Bank annexation won't change

Photo: Artur Widak/NurPhoto via Getty Images

Israeli Prime Minister Benjamin Netanyahu said Monday at a Likud Party faction meeting at the Knesset, Israel's parliament, that his July 1 deadline for starting the process of annexation in the West Bank will not change, according to people in attendance.

Why it matters: The White House and the State Department have stressed over the last few weeks that the deadline set by Netanyahu is "not sacred" to the Trump administration — and that any discussion of annexation needs to be in the context of renewed Israeli-Palestinian peace talks.

Trump threatens to move Republican convention from North Carolina if capacity reduced

President Trump on stage during the 2016 Republican National Convention in Ohio. Photo: Bill Clark/CQ Roll Call via Getty Images

President Trump threatened in a series of Monday tweets to move this summer's Republican National Convention from Charlotte if North Carolina's Democratic governor, Roy Cooper, doesn't allow the event to be held at full capacity.

The state of play: Mandy Cohen, the state's health and human services secretary, said last week that the GOP should "plan for the worst" as mass gatherings will be a "very big challenge" if the number of coronavirus cases in the state continues to increase, per NPR.

The wreckage of summer

Illustration: Sarah Grillo/Axios

We usually think of Memorial Day as the start of the summer, with all of the fun and relaxation that goes with it — but this one is just going to remind us of all of the plans that have been ruined by the coronavirus.

Why it matters: If you thought it was stressful to be locked down during the spring, just wait until everyone realizes that all the traditional summer activities we've been looking forward to are largely off-limits this year.