August 20, 2019 / 10:45 AM / a month ago

Xiaomi posts 15% rise in Q2 revenue, below expectations

SHANGHAI, Aug 20 (Reuters) - China’s Xiaomi Corp 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 ($7.36 billion) from 45.24 billion yuan in the year-ago period. Analysts expected revenue of 53.52 billion yuan, according to Refinitiv data.

Net income fell to 1.96 billion yuan. ($1 = 7.0603 Chinese yuan renminbi) (Reporting by Josh Horwitz; Editing by Muralikumar Anantharaman)

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