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Xiaomi deceived everyone

The real margin on smartphones became known

Xiaomi CEO Lei Jun said only last spring that the company will try to never exceed the net margin of 5% on all of its products, including smartphones.

Commenting on yesterday's results of the company’s work in the third quarter, Lei Jun said that the company's smartphones continue to be very popular. And, it seems, he forgot what he said only a year and a half ago. Since, according to him, the reason for the popularity of Xiaomi smartphones lies in the fact that the gross profit of the company from their sale is 8-9%.
Xiaomi deceived everyone
Last year, Lei Jun added that if for some reason the margin is above 5%, then the company will "find ways to compensate for this to consumers." We really hope that Chinese journalists also remember last year’s statements and ask the Xiaomi leader a question.

He added that in the 5G era, smartphones will rise in price, but compared to competitors, Xiaomi will continue to offer some of the best smartphones in terms of price and performance.

Xiaomi CFO Zhou Guangping commented on a 1.2 million unit drop in smartphone sales over the past year.

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