> Xiaomi as of late is making way more money outside of China than in it
Easy to debunk. The 2020 annual report (the latest available financial report I can find) clearly says
> As we continue to expand our overseas business, revenue from overseas markets amounted to RMB122.4 billion in 2020, representing a year-over-year increase of 34.1% and accounting for 49.8% of our total revenue.
49.8% is not “way more” than 50.2%. Overseas revenue does appear to be growing faster than domestic revenue (the overall revenue grew 19.4% YoY which means domestic revenue grew by 7.7%) so at this rate it could overtake soon, but even then way more is a stretch. I also somehow doubt the low-end business in India is higher margin than their flagship business in China. Hard to imagine earning much profit when you have to compete against $50 or something Jio phones.
Xiaomi India is not directly owned by Xiaomi Communications, the Chinese company, but Xiaomi Communications still does sell some device lines in India as imports.
Easy to debunk. The 2020 annual report (the latest available financial report I can find) clearly says
> As we continue to expand our overseas business, revenue from overseas markets amounted to RMB122.4 billion in 2020, representing a year-over-year increase of 34.1% and accounting for 49.8% of our total revenue.
https://i01.appmifile.com/webfile/globalweb/company/ir/annou...
49.8% is not “way more” than 50.2%. Overseas revenue does appear to be growing faster than domestic revenue (the overall revenue grew 19.4% YoY which means domestic revenue grew by 7.7%) so at this rate it could overtake soon, but even then way more is a stretch. I also somehow doubt the low-end business in India is higher margin than their flagship business in China. Hard to imagine earning much profit when you have to compete against $50 or something Jio phones.