Tech giant Xiaomi reports 27.2 pct revenue growth in Q1

BEIJING, May 20 (Xinhua) -- China's tech giant Xiaomi reported a 27.2-percent increase in revenue in the first quarter of this year.

Its revenue in the first three months of 2019 totaled nearly 43.8 billion yuan (about 6.4 billion U.S. dollars), the Beijing-headquartered company announced Monday in an unaudited quarterly financial report.

Net profits of the company grew 22.4 percent on a year-on-year basis to 2.1 billion yuan.

Revenues from its smartphone segment stood at 27 billion yuan, a rise of 16.2 percent from the same period last year.

As of Q1, active users of MIUI, the phone operating system developed by Xiaomi, reached 260.9 million, up 37.3 percent.