Mainland smartphone maker Xiaomi (1810) posted its first-quarter adjusted net profit, on a non-IFRS basis, rose 10.6 percent year-on-year to 2.3 billion yuan (HK$2.51 billion).
The net profit fell 30.79 percent to 2.16 billion yuan for the first quarter. Total revenue grew 13.6 percent to 49.7 billion yuan.
Revenue from the smartphone segment saw a 12.3 percent increase to 30.3 billion yuan. The first-quarter shipments rose 4.7 percent to 29.2 million, ranking fourth globally with a market share of 11.1 percent, according to Canalys.
Revenue from the Internet of things (IoT) and lifestyle products segment grew 7.8 percent to 13 billion yuan.
Internet services segment contributed 11.9 percent of total income, with revenue rising 38.6 percent to 5.9 billion yuan.
Xiaomi's overseas revenue rose by 47.8 percent year-over-year to 24.8 billion yuan in the first quarter, accounting for 50 percent of total revenue for the first time. Revenues outside mainland China are mainly from India, Indonesia, and Western Europe.
Shares of Xiaomi ended 1.11 percent higher at HK$12.8 today, before announcing the result.
