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Smartphones earn 67% of Xiaomi’s revenue in maiden earnings call

Xiaomi Corp. posted profits of 14.6 billion RMB ($2.1 billion) in its first quarterly earnings call after the company went public in July. The group said it grew by 68% posting revenue of 45.2 billion RMB ($6.6 billion). The bulk of Xiaomi's revenue this quarter came from its smartphone sales, which accounted for 30.5 RMB or 67% of its 45.2 RMB revenue this quarter. Revenue from just the smartphone segment grew YoY by a staggering 59%. Xiaomi said it sold 32 million units in the quarter, as against 22 million in the same quarter last year, representing a YoY growth of 45% units sold. India market Xiaomi's international market accounted for 36% of total revenue in the quarter, with rapid growth in India; the company claims it was ranked first in the country by shipments in the quarter. The company…

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