SHENZHEN, China (Reuters) - Xiaomi Corp reported an 4% drop in second quarter revenue on Tuesday, tracking a continued sales decline in China's handset ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSHENZHEN, China - Xiaomi Corp reported an 4% drop in second quarter revenue on Tuesday, tracking a continued sales decline in China's handset market.
Sales dropped to 67.4 billion yuan , down from 70.17 billion in the same quarter yuan a year earlier, but beating analysts' estimates of 65.13 billion yuan. Net income rose to 5.1 billion yuan over the period, an increase of 147% from 2.08 billion yuan a year earlier, also beating analysts' expectations.
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