We're giving phones without making any money, says Xiaomi VP
Chinese electronics company Xiaomi's Vice President Hugo Barra has said the company "is giving handsets...without making money" as its business model is not based on money from handset sales. "We could sell 10 billion smartphones and we wouldn't make a single dime in profits," he said, adding that revenue from Xiaomi's smart home devices and software eco-system will drive growth.