China’s Xiaomi Technology Ltd Co made a profit of $56.15
million on $4.30 billion in revenue in 2013.
In a disclosure made to the Shenzhen Stock Exchange,
Xiaomi said chairman and chief executive Lei Jun claims 77.8 per cent ownership
of the company, while unnamed shareholders split the remaining shares.
The filings also revealed 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.
The results help shed light on long-running
speculation in the technology industry over Xiaomi’s margins and the financial
impact of business model.
Xiaomi has recently suspended its sales in India
following directions of the Delhi High Court, restraining sales of its
products. Xiaomi had been selling its phones exclusively through online
retailer Flipkart in India, the world’s third largest smartphone market.
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