Tech giant Xiaomi posts 20% profit growth in Q3
Its adjusted net profit reached 3.5 billion yuan ($498 million) while total revenue rose 5.5 per cent year on year to 53.7 billion yuan, the Beijing-headquartered company announced on Wednesday in its quarterly financial results, the Xinhua news agency reported.
Its smartphone business generated a revenue of 32.3 billion yuan. Xiaomi had a 9.2-per cent share of the global smartphone market in the third quarter, according to market research firm Canalys. Reuters