Xiaomi Promises To Limit Net Profit Margin To 5% Ahead Of IPO

Chinese electronics giant Xiaomi Inc. has made an unusual promise that it will limit its net profit margin to 5% for its hardware business, including smartphones, IoT and lifestyle products. The news is significant given Xiaomi is reportedly gearing up for an IPO that some say could value the company up to US$100 billion.

Xiaomi Beats Samsung to Become Top Smartphone Vendor In India

Chinese smartphone maker Xiaomi Inc. surpassed South Korea’s Samsung Group as the top seller of smartphones in India for the first time in the fourth quarter of 2017. During the period, Xiaomi shipped close to 8.2 million units in India, up 170% year-on-year, while Samsung shipped just over 7.3 million units, up 17% year-on-year. Samsung had been the top seller in India for six years. Together, the two companies command more than 50% of the smartphone market in the country, with …