China's Xiaomi promises to cap hardware income margin ahead of IPO

China's Xiaomi promises to cap hardware income margin ahead of IPO

6 years ago
Anonymous $CLwNLde341

https://www.reuters.com/article/us-china-xiaomi-strategy/chinas-xiaomi-promises-to-cap-hardware-income-margin-ahead-of-ipo-idUSKBN1HW0RC

Chinese smartphone and smart device maker Xiaomi will cap income from its hardware business at 5 percent of total profits starting in 2018, as it looks to position itself as an internet services provider ahead of a highly-anticipated IPO.