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Summary (IA Generated)
Xiaomi ended 2019 on a high, reporting a 27.
The Chinese giant said sales in the fourth quarter jumped to 56.
42 billion yuan in the same quarter a year before.
In the fourth quarter of 2019, Xiaomi’s net profit was RMB 2.
Xiaomi said its cash reserves had improved and it planned to continue to invest in international regions such as India, its biggest overseas market.
Xiaomi said the gross profit margin from the smartphone business, its biggest revenue source, had increased from 6.
At Xiaomi, we firmly believe that our long-term business success is underpinned by technological innovations, and to that effect, we plan to invest RMB50.
0 billion in the next five years, as we relentlessly focus on technological innovation and user experience to grow our loyal Mi Fan base,” he added.