Smartphone maker Xiaomi's 2019 revenue up 17.7 percent

Source: Xinhua | 2020-04-01

Chinese electronics company Xiaomi announced Tuesday that its 2019 revenue totaled 205.8 billion yuan (about 29 billion U.S. dollars).

The reading marked a 17.7-percent increase year on year as the firm bet big on artificial intelligence and the Internet of Things.

The Beijing-based smartphone maker said its net profit last year reached 11.5 billion yuan, up 34.8 percent year on year.