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Xiaomi promises its hardware business model and overall net profit margin will never exceed 5%

Xiaomi at the Mi 6X launch event in China has also made a separate announcement where it promised that the overall net profit margin will never exceed 5%. This also includes smartphones, IoT and lifestyle products. It also said that If the margin crosses 5%, then the company will find a way to return the excess above 5% to its users. With this new initiative, the company is aiming to earn the long-term support of users and sell large volumes with small profit margins which will result in...
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