Financial Data

Xiaomi’s Financial Data Shows Only $3 Profit Per Phone

Disclosures to the Shenzhen Stock Exchange released after Xiaomi invested in a Chinese appliance maker has shown that the company earned a $56.1 million profit on $4.3 billion in revenue during 2013. The New York Times is reporting that the Chinese smartphone maker, who began selling its first smartphone in 2011, made only about $3 per phone on the roughly...