Wednesday, 25 April 2018

Xiaomi goes full communist, vows its phone profits will never exceed 5%

Yes, you can get a sturdy 6" metal phone with thin bezels, midrange Snapdragon, good camera, 4GB RAM/64GB storage, and 4000mAh battery for $220. Yes, we are talking about China's new sales darling, Xiaomi. Despite having little retail presence, and counting mostly on direct online sales, the company is now one of the best-selling brands in its home turf, moving 12 million units there in Q1.

Needless to say, the secret of its success is great handsets sold at ultrathin profit margins. While that last thing can be said for a lot of Chinese brands, the first is usually reserved ...

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