HONG KONG—Chinese smartphone maker Xiaomi Inc., which was founded just four years ago, already is among the world’s largest smartphone makers.
Now a confidential document viewed by The Wall Street Journal shows that Xiaomi’s net profit nearly doubled last year, making it a lucrative business in an industry where most players selling cheap handsets struggle to break even.
Xiaomi, which a few months ago surpassed Samsung.
Chinese Tech Firm’s Earnings Rose 84% Last Year
By PRUDENCE HO, LORRAINE LUK and JURO OSAWAXiaomi Makes a Profit on Its Cheap Smartphones
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