Chinese phone maker Xiaomi released its first-quarter financial report on Wednesday, revealing a total revenue of RMB 59.5 billion ($8.4 billion), an 18.9% year-on-year decrease. According to market analyst firm Canalys, global smartphone shipments in the first quarter experienced a significant 13.3% year-on-year decline, representing the lowest first-quarter shipment levels since 2014. Xiaomi’s smartphone shipments, in comparison to the first quarter of the previous year, saw a decline of 21.1%, dropping from 38.5 million units to 30.4 million units. In an interview with Shanghai-based state media outlet The Paper, published to coincide with the financial results, Xiaomi’s president Lu Weibing discussed the company’s AI aspirations. In April, Xiaomi established an AI Lab Foundation Model team, which consists of over 1,200 employees specializing in artificial intelligence. Lu emphasized that while the company does not intend to develop an AI model similar to OpenAI’s ChatGPT, it does want to expand AI-related user scenarios to maximize efficiency within the company and explore potential partnerships. [The Paper, in Chinese]