Chinese smartphone manufacturer Xiaomi turned losses in the first quarter, and due to the reduction in investment income and cost, it offset the impact of decline in income.
According to the Dow Jones News Agency, the company's net profit of the quarter was 4.2 billion yuan (RMB, the same below, about S $ 800 million), and the same period last year was RMB 587.6 million.
Xiaomi said that because the global smartphone market is still weak, revenue has dropped from 73.35 billion yuan in the same period last year to 59.48 billion yuan.The main revenue source of the smartphone department of the smartphone department fell 23.6%to 35 billion yuan.
Xiaomi said that the overall cost decreased by 6.4%year -on -year, and the gross profit margin reached 19.5%of the record, thanks to efficiency measures and other cost control.
Xiaomi emphasized that the goal is to further consolidate the high -end strategy of smartphones, and it is expected that this year's R & D investment will exceed 20 billion yuan.The company's first quarter R & D expenditure was 4.1 billion yuan, an increase of 18%year -on -year.
