News Formal

Xiaomi Q4 profit surges as it grabs market share after Huawei retreat

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

SHANGHAI: Chinese smartphone maker Xiaomi Corp on Wednesday reported a 36.7% rise in fourth-quarter net profit, as Android rival Huawei steadily retre...

SHANGHAI:

In the October-December quarter, Xiaomi's shipments in China surged 52% from a year earlier, and the company cornered 15% of the market share. In an earnings call, Xiaomi President Wang Xiang said that the chip shortage's associated cost increases might get passed on to consumers in some cases. “We are feeling pressure, but we are looking okay,“ Wang told investors.Overseas sales grew 27.6% to 33.8 billion yuan, accounting for 47.9% of the company's revenue.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Xiaomi moves past struggling Huawei as No 1 Chinese smartphone vendor in global marketXiaomi recorded its most profitable year in 2020 on the back of expanded sales and global market shareThe Beijing-based company was the world’s third-largest smartphone vendor in the fourth quarter, behind Apple and Samsung
Source: staronline - 🏆 4. / 75 Read more »