Xiaomi revenue grows 13.6% in the first quarter of 2020

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Manufacturer Xiaomi does not appear to have felt the negative effects of the new coronavirus pandemic on finance. The Chinese said on Wednesday (20) that the company’s revenue increased 13.6% in the first quarter of 2020, compared to the same period last year.

In sales in this range, the company generated a total of 49.7 billion yuan in direct currency conversion, also registering an increase. The recorded numbers are even better than internal and analyst estimates. The sale of smartphones worldwide is expected to decline, both due to the reduction in operations and changes in consumer habits.

The Internet of Things (IoT), lifestyle and internet services divisions grew. In addition, this was the first time that the company’s international sales reached 50%, equaling the performance in the local market. India, Indonesia and western Europe are the regions considered the most successful by the brand. The only number in the red is the net profit, which fell 32.3%. This means that the company’s spending has also gone up.

Actions to survive
In China, Xiaomi has launched some special products to help combat covid-19, including a sterilizing lamp. She also bet on contactless deliveries to maintain operations and resumed 80% of operations in Wuhan, the first epicenter of the pandemic, still in mid-March.


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