Xiaomi's first post-IPO financial report proves the company knows how to make money

While Xiaomi has enjoyed a tremendous past few quarters in terms of smartphone shipments and global market relevance, actually making money has proven rather difficult for fairly obvious reasons.

The company continues to rely heavily on sales of low-margin mobile devices, despite constantly looking to diversify its business portfolio and boost revenues derived from software and various so-called internet services.

But somehow, after an initial public offering valuing the tech giant at $54 billion last month, Xiaomi managed to generate a healthy Q2 net profit of 14.63 billion ...

Source PhoneArena https://ift.tt/2MpeNW6
via Seoandserver