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Xiaomi profit grows in second-quarter, boosted by premium phone sales

Revenue rose 3.1% in the quarter ending June 30, while sales rose to 53.54 billion yuan ($7.77 billion), beating analysts' expectations

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Xiaomi has found itself caught in a backlash against Chinese tech firms in India, where the govt last month banned several mobile apps from a range of Chinese companies, including two from Xiaomi

Reuters

2 min read Last Updated : Aug 27 2020 | 2:15 AM IST

Xiaomi Corp's overseas sales have returned to pre-pandemic levels, its acting CFO said on Wednesday, as it announced profit had more than doubled in the second quarter on the back of strong growth in its high-end smartphone business.

Revenue rose 3.1% in the quarter ending June 30, while sales rose to 53.54 billion yuan ($7.77 billion), beating analysts' expectations. Revenue was up from 51.95 billion yuan in the same period a year earlier.

Overall revenue from the company's smartphones business, which accounts for nearly two-thirds of its revenue, fell 1.2% to 31.6 billion yuan. Xiaomi sold 28.3 million handsets in

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