Xiaomi revenue misses estimates, competition from Oppo and Vivo hurts

Sales rose to 78.06 billion yuan ($12.22 billion) in the three months to Sept. 30. Analysts had expected 79.20 billion yuan, Refinitiv data shows. Profit slumped 84% to 788.6 million yuan, which Xiaomi attributed to changes in the valuation of companies in its investment portfolio.

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Sales rose to 78.06 billion yuan ($12.22 billion) in the three months to Sept. 30. Analysts had expected 79.20 billion yuan, Refinitiv data shows. Profit slumped 84% to 788.6 million yuan, which Xiaomi attributed to changes in the valuation of companies in its investment portfolio.