The Chinese electronics group Xiaomi has completed the past financial year with an unexpectedly powerful increase in profit. The adjusted net profit grew by 69 percent in the fourth quarter to 8.32 billion Yuan (about a billion euros), the company announced on Tuesday.
Analysts had expected 6.40 billion. Turnover climbed by almost 50 percent to 109 billion Yuan, also more than expected.
E-car activities is growing
Last year, Xiaomi converted 32.1 billion Yuan with his electric vehicle activities and supplied more than 135,000 SU7 Sedan models. This year the group wants to deliver 350,000 electric vehicles – 300,000 were the target at the end of December.
The smartphone company also increased: worldwide deliveries rose by 5 percent in the fourth quarter to 42.7 million devices, which were third worldwide with a market share of 13 percent. In China, sales climbed 29 percent to 12.2 million devices.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
