Xiaomi posts 15% rise in second quarter revenue, below expectations

FILE PHOTO: The logo of Xiaomi is seen outside the brand's store in central Kiev, Ukraine August 7, 2018. REUTERS/Valentyn Ogirenko - Copyright VALENTYN OGIRENKO(Reuters)

By Reuters

Published on 20/08/2019 - 13:04•Updated 24/04/2024 - 04:36

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SHANGHAI (Reuters) - China's Xiaomi Corp <1810.HK> reported a smaller-than-expected 15% growth in quarterly revenue on Tuesday as fewer people bought smartphones at home and rival Huawei grabbed market share.

Revenue in the second quarter ended June 30 rose to 51.95 billion yuan (£6.08 billion) from 45.24 billion yuan in the year-ago period. Analysts expected revenue of 53.52 billion yuan, according to Refinitiv data.