Xiaomi's Q4 net profit rose by up to Rs 1,900 crores: Report

A report revealed that Xiaomi earned a net profit of CNY 8.6 billion (approximately Rs 8,833 crores) in the year 2018.

  • Published: March 20, 2019 2:39 PM IST

A report has now revealed that Xiaomi’s fourth-quarter net profit has bumped up to CNY 1.85 billion (approximately Rs 1,900 crores), up from CNY 1.7 billion (approximately Rs 1,746 crores), Reuters reported citing Refinitiv data. Moreover, revenue for the period progressed by only 27 percent, which is CNY 44.4 billion (approximately Rs 45,608 crores). It is quite lower than Xiaomi’s expectations of CNY 47.4 billion (approximately Rs 48,700 crores), as per the cited source.

The report further revealed that the popular Chinese company earned a net profit of CNY 8.6 billion (approximately Rs 8,833 crores) in the year 2018. “Xiaomi shares have rallied nearly 30 percent since early January, though they remain well below their July listing price,” the site stated. Speaking on a call with reporters, Xiaomi CFO Shou Zi Chew reportedly said “We will continue to explore the global markets and replicate the success in India in other key markets such as Indonesia and Western Europe,” he said. “We will also expand into more new international markets in 2019.”

Besides, in recent weeks, Xiaomi has launched three smartphones in India, which includes Redmi Note 7 Pro, Redmi Note 7 and Redmi Go. The Pro variant offers a Snapdragon 675 chipset, a massive 48-megapixel primary sensor and a large 4,000mAh battery. The Redmi Note 7, on the other hand, offers Snapdragon 660 SoC, dual cameras, a 6.3-inch full-HD+ (1080×2340 pixels) display and a 4,000mAh battery.

Watch: Xiaomi Redmi Note 6 Pro First Look

Coming to the Redmi Go, the handset packs an entry-level Snapdragon 425 chipset, a 5-inch HD display, a 3,000mAh battery and a total of two cameras. Just yesterday, Xiaomi also launched the Redmi 7 smartphone in China with Qualcomm Snapdragon 632 SoC, 6.2-inch display with 19:9 aspect ratio and Corning Gorilla Glass 5. Similar to other Redmi phones, the Redmi 7 too offers a large 4,000mAh battery. Xiaomi has equipped a total of three cameras.

  • Published Date: March 20, 2019 2:39 PM IST