china's xiaomi booked $56 million profit in 2013: filing - home appliance manufacturer

Net was 347.
5 mln yuan, income 26. 6 bln yuan;
Operating profit margin is 1.
Pct 8 is 18 than Samsung. 7 pct;
Xiaomi invests in building an ecosystem of connected devices
Millet Company parts filing results-
Has Millet Technology Co. , Ltd. Co booked 347. 5 million yuan ($56 million)
According to a regulatory document showing the world's number one, net profit last year
3 smart phone manufacturers grab razorsthin margins.
This number brings new light to the growth of a company, which has reached third place in just four years, thanks to the balance of quality and price of mobile phones.
It was not until this month that the momentum finally stopped when the patent challenge in India stopped selling.
According to private investors, Xiaomi's revenue is more than $10 billion, or $26.
6 billion yuan, operating profit margin is only 1. 8 percent.
A spokeswoman for Xiaomi confirmed the accuracy of the document, but said it did not cover all of Xiaomi's business.
"They are growing so fast and so lean, and I won't be surprised even if they lose money," said Bryan Wang, analyst at Forrester Research . ".
"The current market is so competitive that I don't think it's sustainable without integration.
The "Xiaomi brand itself is an" internet company "that avoids traditional marketing and sells hardware at low prices as a distribution channel for its truly profitable software and services.
However, the financial pressures of this business model and whether Xiaomi can generate sustainable profits have always been a long-term topic.
Speculation in the technology industry.
In addition to the leading smartphone manufacturer Samsung Electronics Co. , Ltd. and Apple Inc.
Due to the pricing pressure of low prices, profitability may decline in the next few years
Fitch Ratings said last month that profit-margin companies such as Xiaomi.
Samsung Mobile division announced Operating profit margin of 18.
Last year was 7%, while Apple was 28.
The Business Year ended September 2013 was 7% per cent.
The profit margin of LG Electronics's mobile business is only 0. 5 per cent.
South Korea's LG has lost third place in the world.
In the third quarter of this year, Xiaomi's share in the global market was 5.
According to the strategic analysis, this ratio is 6.
Xiaomi's financial performance was included in a document submitted by Midea Group Co. , Ltd. to the Shenzhen Stock Exchange on Monday.
Millet bought 1.
3% of electrical appliance manufacturers is 1. 27 billion yuan.
Xiaomi has been investing heavily in these companies to build an internet ecosystem --
Connected devices and devices outside of smartphones.
The document also disclosed the claim of the president and chief executive of Lei on June.
He owns 8% of the company together.
The company was established in 2010 and the remaining equity was divided by unnamed shareholders.