Back in November, the Wall Street Journal cited internal documents as the source behind its report stating that smartphone manufacturer Xiaomi had earned $556 million in 2013. According to Reuters, Xiaomi actually made a lot less money last year. Regulatory documents read by the news agency show that the fast growing manufacturer actually booked a profit of $56.15 million last year, on revenue of $4.30 billion. Xiaomi's operating profit came in at $78.5 million.Xiaomi sells its handsets for a low price which explains the thin 2% operating margin it reported for 2013. In comparison, Apple ...
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