Chinese smartphone maker Xiaomi Corp said on Tuesday its fourth-quarter net prof...
SHANGHAI - Chinese smartphone maker Xiaomi Corp said on Tuesday its fourth-quarter net profit more than tripled to 1.85 billion yuan , on stronger revenue.
For the full 2018 calendar year, Xiaomi brought in revenue of 174.9 billion yuan and made a net profit of 8.6 billion yuan. Speaking on a call with reporters, Xiaomi CFO Shou Zi Chew said that sales from outside of China made up 40 percent of the company’s revenue in the fourth quarter of 2018, adding that global expansion would be a priority for 2019.
In February, upon the launch of Xiaomi’s new flagship Mi 9 phone, founder Lei Jun said the device would be the company’s last such handset priced at under 3,000 yuan .
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