The annual revenue of the Xiaomi Group is expected to exceed RMB 200 billion ($28.7 billion) and the research and development expenses are expected to be about RMB 7 billion, the Hong Kong listed Chinese smartphone maker said in a pre-market statement.
Xiaomi said it will continue to focus on "5G + AIoT" in order to continue to expand its advantages in loT.
The R&D expenses for the year to be ended December 31, 2020 are expected to exceed approximately RMB 10 billion, it said.
Xiaomi said the above information will be shared during the Xiaomi 10 smartphone product launch event, which will start at 14:00 on February 13 Beijing Time.
Xiaomi will announce the annual results for the year ended December 31, 2019 in March 2020.
Xiaomi shares went down 0.15% to 12.9 HKD in early morning trade in Hong Kong.
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