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Chinese Smartphone Maker Xiaomi Fourth-quarter Profit Rises 36.7% on Handset Demand

Chinese Smartphone Maker Xiaomi Fourth-quarter Profit Rises 36.7% on Handset Demand

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Chinese Smartphone Maker Xiaomi Fourth-quarter Profit Rises 36.7% on Handset Demand

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  1. Chinese smartphone maker Xiaomi fourth-quarter profit rises 36.7% on handset demand

  2. SHANGHAI (Reuters) - Chinese cell phone creator Xiaomi Corp announced a 36.7% ascent in final quarter net benefit on Wednesday, similarly as its significant Android rival dropped out of the market. Changed net benefit for the quarter finishing Dec. 31 rose to 3.2 billion yuan ($490.84 million), beating investigator assumptions for 2.9 billion yuan. Deals hit 70.5 billion yuan, up 24.8% year- on-year. The outcomes come as Huawei Technologies Co Ltd, the organization's principle rival, consistently withdraws from the worldwide cell phone market because of U.S.- drove sanctions.

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