The company said it will apply quantum dot technology into selected models for enhanced color, brightness, contrast and client experience.
The company recently opened its first official flagship store in Beijing as part of its wider efforts to tap into the local market, marking a significant move into the high-end mass consumer market.
The company resumed production on Feb 10, when 80 percent of its employees returned to their workplaces. A week later, all its 290 employees came back to work.
The company said the new 88 internet brand will mainly focus on offering internet products such as email services, a knowledge platform, professional networking, recruitment products and business information products. It will seek to provide individual users with solutions that foster efficient communication and better social connections.
The company said a "flagship smartphone" will go on sale in its store at Westfield. Industry experts speculate this will be the recently-announced Mi Mix 3. The phone supports wireless charging and features a sliding mechanism that reveals a front-facing camera and facial recognition sensor.
The company saw steady growth in online music paying users in the fourth quarter of 2019, up 47.8 percent year-on-year to 39.9 million, increasing by 4.5 million quarterly, compared with growth of 4.4 million in the previous quarter.
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The company's quarter one net profit margin stood at about 8 percent, slightly higher than the same period last year.
The company recently released its first television commercial.[Photo provided to chinadaily.com.cn]
The company is?leaning on the U.S. Postal Service to speed up delivery,?adding Sunday delivery to 25 percent of the U.S. population. It also entered a pilot program with the postal service to test grocery delivery. In New York, it rolled out its own fleet of drivers for the delivery of food and other products that are stored nearby, like it has in Seattle, San Francisco and Los Angeles. Farther out on the horizon, Amazon has more experimental programs focused on drones, and it may soon be dabbling in physical retail stores (at least for the holidays).
The company, headquartered in Shanghai, sells discounted products by incorporating social networking into online shopping, and has more than 300 million active users.