China’s Xiaomi this week reported record first-quarter revenue and profit, as the company said its ongoing shift towards higher-end products from smartphones to home appliances was already paying off.
Revenue for the quarter ended March 31 was 111.3 billion yuan ($15.48 billion), up 47 per cent year-on-year and beating the 107.6 billion yuan average of 17 analyst estimates compiled by LSEG.
Adjusted net profit rose above 10 billion yuan for
