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Xiaomi sales growth slows to 3% in Q2, adjusted net profit falls 7%

2020-08-26 15:34:00| Telecompaper Headlines

(Telecompaper) Xiaomi reported a further slowdown in revenue growth in the second quarter. Revenues were up just 3.1 percent year-on-year to CNY 53.54 billion, as the coronavirus outbreak hurt sales in Europe, India and other markets. Gross profit rose 6.1 percent to CNY 7.70 billion, helped by a growing share of services in the sales mix, while adjusted net profit fell 7.2 percent to CNY 3.7 billion. 

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