China's Xiaomi Corp reported 15% growth in quarterly revenue on T...
) reported 15% growth in quarterly revenue on Tuesday, missing estimates, as fewer people bought smartphones at home and rival Huawei grabbed market share.
The company, which listed last year, gets the majority of its revenue from mobile handsets, but also makes money selling online ads and other consumer devices. On an earnings call, leaders instead highlighted the company’s so-called “AIoT” strategy, short for “Artificial Intelligence of Things,” in which it invests in artificial intelligence and smart home devices.
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