Xiaomi can’t beat Apple in India even after selling 10 times more phones
Apple and Xiaomi’s rivalry in India is a juicy paradox.
In the financial year ending March 2018, the Chinese firm sold over 10 times more smartphones in the country than the iPhone maker. Apple’s revenue stood at Rs13,098 crore—just a little over half of Xiaomi’s Rs23,000 crore, according to regulatory filings sourced by data platform Tofler.
Yet, at Rs896 crore, the US tech giant made approximately three times the Beijing-based firm’s profits (Rs293 crore).
The Cupertino-based company can thank its steep price points and high margins for this.