Xiaomi’s India unit starts to make profit after three years

Xiaomi, China’s leading smartphone manufacturer, has turned profitable in its third year in India, highlighting an increasing preference for Chinese phones over those produced by local rivals.

Xiaomi’s India unit saw a 696% sales surge to Rs 83.79 billion ($1.3 billion) with a net profit of Rs 1.64 billion ($25.42 million) during FY17, marking the company’s growing clout in India. This reflects that Xiaomi has started to make a profit in the fiscal ended March 2017 as sales surge more than seven times, as reported by The Economic Times.

Just one year ago, the company saw its revenues at Rs 10.46 billion ($ 162.13 million) with a net loss of Rs 469 million ($ 7.27 million).

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