Linked by Thom Holwerda on Sun 4th Jan 2015 16:25 UTC
PDAs, Cellphones, Wireless

Fast-growing Chinese tech firm Xiaomi Technology Ltd Co booked 74.3 billion yuan ($11.97 billion) in pre-tax sales last year, up 135 percent from 2013, the firm's chief executive Lei Jun said on his official microblog account on Sunday.


Xiaomi sold a total of just over 61 million phones in 2014, up 227 percent from a year earlier, Lei added in a post on his Sina Weibo microblog account.

The post did not give a related profit figure, although a filing last month showed that the firm was grappling with razor thin margins as it rapidly expands. A part of the business made around 347.5 million yuan net profit last year on revenue of 26.6 billion yuan and an operating margin of just 1.8 percent.

Shamelessness sells.

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Shamelessness sells
by phti on Mon 5th Jan 2015 10:11 UTC
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... but it does not profit.
The only reason people are buying Xiaomi devices (except for the few stupid anti-Apple people) is because they can't afford an Apple device but hey, slashing prices also slashes profits, did anyone told you? They will not last long.

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