Xiaomi beats first-quarter earnings estimates after US lifts securities ban on Chinese smartphone giant

//Xiaomi beats first-quarter earnings estimates after US lifts securities ban on Chinese smartphone giant

Xiaomi beats first-quarter earnings estimates after US lifts securities ban on Chinese smartphone giant

Xiaomi Corp’s first-quarter net profit grew 260.6 per cent to beat estimates on the back of increased sales worldwide, as the US lifted a Trump-era securities ban on the Chinese smartphone giant.The Beijing-based company, which was the world’s third-largest smartphone vendor in the first quarter, reported on Wednesday a better-than-expected net profit of 7.8 billion yuan (US$1.2 billion) in the three months ended March 31, up from 2.15 billion yuan in the same period in 2020. That surpassed the…

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By | 2021-05-26T10:26:10+00:00 May 26th, 2021|Technology|Comments Off on Xiaomi beats first-quarter earnings estimates after US lifts securities ban on Chinese smartphone giant