What do you think of the figures?
Annual report: https://ir.mi.com/static-files/29a59068-f19f-4199-9114-4450211c9461
Xiaomi reports 23.7% drop in fourth quarter profits
China's Xiaomi Corp reported a 23.7% drop in fourth-quarter profit on Tuesday as the company continues to invest heavily in its electric vehicle business.
Adjusted net profit for the quarter ended Dec. 31 fell to 6.3 billion yuan ($914.45 million), but was higher than the average analyst estimate of 5.7 billion yuan, according to data from LSEG.
Xiaomi, which also manufactures smartphones and home appliances, reported fourth-quarter sales of 116.9 billion yuan. This figure was slightly above the average expectation of 116.2 billion yuan.$1810 (-2.7%)
