FILE PHOTO: People walk past a Xiaomi store in Shenyang, Liaoning province, China June 12, 2018. Picture taken June 12, 2018. REUTERS/Stringer
SHANGHAI (Reuters) – Xiaomi Corp reported a 13.6% rise in first-quarter revenue on Wednesday, even as demand for its smartphones plunged amid the coronavirus pandemic that has also rattled supply chains in China.
Sales in the first quarter of 2020 rose to 49.7 billion yuan ($7.00 billion) from 43.76 billion yuan in the same period prior year, beating analyst expectations of 47.86 billion yuan.
Reporting by Josh Horwitz, editing by Louise Heavens