Xiaomi Mobile Promise: If you earn too much money, it will return some of the profits to customers

Xiaomi, the Chinese smartphone maker, released a public-listing plan this year and made a unique commitment: if it earns too much money, it will return most of its profits to its customers.

The company says it will always limit the net profit after tax on smartphones, smart home devices and other hardware below 5%. If it earns more money in a calendar year than planned, it plans to "allocate the extra amount to the user in a reasonable way".

Companies like LG and Samsung rely on component departments and other consumer brands to record most of the revenue they make, and more broadly, competitive markets mean there is not much money required to sell handsets. Despite a 18% market share, Apple estimates that it accounts for up to 87% of all smartphone profits.

Xiaomi MiMix2 was widely praised last year when it was launched, indeed, it did not make money on hardware sales. This approach may have changed, but Xiaomi has never had a profit margin number in its home before.

This commitment is in line with the company's core focus on delivering cutting-edge technology at the lowest possible price. Over the years, the price of its $150 REDMI series has been soaring, while countless high-end MI handsets (usually priced at $150-300) and countless contrasts between Apple and Samsung's flagship products have made the Internet.

Xiaomi said from the start that smartphones are only part of its broader ecosystem-including the Xiaomi brand's smart home and "lifestyle" devices from third parties, and, more importantly, the services that connect all of the hardware. These include services such as online video, e-commerce, financial products and other digital services. "From the outset, we began our relentless quest for innovation, quality, design, user experience and efficiency, offering the best technology products and services at a cheap price. We want our products and services to help our users achieve a better life. Lei June, CEO and co-founder, said in the financial statements announced today.

According to Bloomberg, Xiaomi has been widely publicized this year when the IPO was launched, with a business value of $100 billion. The Chinese media recently claimed that the company was planning a dual initial public offering that would be listed in Hong Kong and mainland China. This double-headed IPO will be unique, but as Xiaomi has shown today, it has no intention of sticking to the so-called convention. (Source: Hacker weekly)?

Xiaomi Mobile Promise: If you earn too much money, it will return some of the profits to customers