Chinese smartphone maker Xiaomi experiences 13.six% improve in initial-quarter income

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FILE Photo: Persons stroll earlier a Xiaomi retail retailer in Shenyang, Liaoning province, China June 12, 2018. Image taken June 12, 2018. Details/Stringer

SHANGHAI (Details) – Xiaomi Corp reported a 13.six% rise in very first-quarter earnings on Wednesday, even as require for its smartphones plunged amid the coronavirus pandemic that has also rattled supply chains in China.

Income in the initially quarter of 2020 rose to 49.7 billion yuan ($7.00 billion) from 43.76 billion yuan in the identical time period prior 12 months, beating analyst expectations of 47.86 billion yuan.

Reporting by Josh Horwitz, editing by Louise Heavens