Xiaomi made $56 mln profit in 2013: filing | HT Tech

Xiaomi made $56 mln profit in 2013: filing

China's Xiaomi Technology Ltd Co made a profit of 347.48 million yuan ($56.15 million) on 26.58 billion yuan ($4.30 billion) in revenue in 2013, Chinese securities filings dated Monday show.

By:REUTERS
| Updated on: Dec 15 2014, 10:37 IST
image caption

China's Xiaomi Technology Ltd Co made a profit of 347.48 million yuan ($56.15 million) on 26.58 billion yuan ($4.30 billion) in revenue in 2013, Chinese securities filings dated Monday show.

The filings also revealed chairman and chief executive Lei Jun claims 77.8% ownership of the company, while unnamed shareholders split the remaining shares.

You may be interested in

MobilesTablets Laptops
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Vivo X100 Pro 5G
  • Asteroid Black
  • 16 GB RAM
  • 512 GB Storage
23% OFF
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
10% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

The newly disclosed figures provide a snapshot of a four year-old company that has since become the most popular smartphone vendor in China and the third-largest vendor in the world, thanks to a lineup of handset that are considered high-quality yet relatively inexpensive.

Also read
Looking for a smartphone? To check mobile finder click here.

The results help shed light on long-running speculation in the technology industry over Xiaomi's margins and the financial impact of business model.

The financial results were included in disclosures made to the Shenzhen Stock Exchange after Xiaomi purchased a 1.3% stake in Midea Group Co Ltd, a publicly traded electrical appliance company, for 1.27 billion yuan.

A Xiaomi spokeswoman could not immediately provide comment. By comparison, Apple Inc reported $25.4 billion in 2013 revenue in Greater China

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 15 Dec, 10:36 IST
NEXT ARTICLE BEGINS