Xiaomi 1H 2020 Revenue Up 7.9% Driven by Service and Overseas Growth
In the first half of 2020, Xiaomi's (01810:HK) total revenue amounted to CNY 103.2 billion, representing an increase of 7.90% year-over-year. The profit for the period went up by 29.30% year-over-year, reaching CNY 6.65 billion.
The Internet service sector presents a 29% year-over-year growth to CNY 5.9 billion, contributing to the total revenue growth the most. The company's smartphone sector slightly declined by 1.2% year-over-year to CNY 31.6 billion as the global smartphone market declined.
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