Xiaomi Q1 earnings report shows 27% growth in revenue

Xiaomi entered 2019 with a bang with its Mi 9 flagship and Redmi Note 7 series. The company released its earnings report for Q1 and the num...

Xiaomi entered 2019 with a bang with its Mi 9 flagship and Redmi Note 7 series. The company released its earnings report for Q1 and the numbers are better than expected. Thanks to solid sales outside its home market of China, Xiaomi recorded CNY 43.8 billion ($6.3 billion) in revenue which is a 27% increase compared to the same period last year and 1.7 billion more than the previously estimated CNY 42.1 billion. The adjusted net income is valued at CNY 2.1 billion up from CNY 1.7 billion in Q1 of 2018. Despite the stagnating domestic market and 21% decline in Chinese smartphone...

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