Correction to Xiaomi Invests in Chinese Home-Appliance Maker Story
December 15 2014 - 8:18AM
Dow Jones News
Midea Group Co. disclosed in a filing that smartphone maker
Xiaomi Inc. posted a net profit of 347 million yuan ($56 million)
on revenue of 26.5 billion yuan in 2013. Also, The Wall Street
Journal, citing a confidential document, reported in November that
on the group level privately held Xiaomi's profit nearly doubled in
2013. Xiaomi said the earnings figures in the Midea filing refer
only to Xiaomi Inc., one of the companies under the Xiaomi group.
"Xiaomi Invests in Chinese Home Appliance Maker Midea," at 0418
GMT, misstated that Midea's filing said Xiaomi posted a 2013 net
profit of 3.5 billion yuan.
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