Chinese smartphone maker Xiaomi Corp reported a 36.7per cent rise in fourth-quarter net profit on Wednesday, just as its major Android rival fell out of the market.
FILE PHOTO: The logo of Xiaomi is seen inside the company's office in Bengaluru, India, January 18, 2018. REUTERS/Abhishek N. Chinnappa/File PhotoSHANGHAI: Chinese smartphone maker Xiaomi Corp reported a 36.7per cent rise in fourth-quarter net profit on Wednesday, just as its major Android rival fell out of the market.
Adjusted net profit for the quarter ending Dec. 31 rose to 3.2 billion yuan , beating analyst expectations of 2.9 billion yuan.The results come as Huawei Technologies Co Ltd, the company's main rival, steadily retreats from the global smartphone market due to U.S.-led sanctions.
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