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Xiaomi beats profit view, sees more global expansion

SHANGHAI: Chinese smartphone maker Xiaomi Corp said on Tuesday its fourth-quarter net profit more than tripled to 1.85 billion yuan ($275.59 million), on stronger revenue. That exceeded the 1.7 billion yuan average estimate of 10 analysts, according to Refinitiv data . Revenue for the period increased 27 percent to 44.4 billion yuan, lower than the 47.4 billion yuan average estimate of 13 analysts, according to Refinitiv data. The results show Xiaomi is weathering fairly well a slowing Chinese smartphone market, the world’s biggest, by increasing its focus on markets such as India and Europe. For the full 2018 calendar […]

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