Xiaomi, Samsung compromise on profits in the battle for supremacy

While Xiaomi lands in the red for the first time in FY19, Samsung's profit after tax dips 59%

The country’s two leading handset companies, Xiaomi and Samsung, seem to have forgone profitability in the battle for supremacy. In the financial year 2018-19 (FY19), smartphone market leader Xiaomi ended up in the red, while runner-up Samsung’s net profit plunged 59 per cent.

The filings available at the Registrar of Companies show that Xiaomi, which markets some of the top-selling handset models such as the Redmi series, reported a Rs 148.5-crore net loss in FY19. This is the first time that its bottom line has been in the red since its entry into the local market in mid-2014. 

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