Xiaomi: No money from smartphones

xiaomi-mi-maxMany of us may know Xiaomi as a leading China handphone maker with its unique business model of selling in batches online.

In an interesting revelation to Reuters, Xiaomi Global Vice President declared that the company does not make money from selling handsets.

He is essentially saying that Xiaomi is giving away smartphones because the focus is on “recurring revenue streams over many years”. The company is looking at revenue from other products, such as smart-home device, software and services.

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