Xiaomi earned net profits worth $56 million in 2013

Chinese phone maker Xiaomi reportedly earned $56 million in net profit in 2013.According to a disclosure made to the Shenzhen Stock Exchange, Xiaomi made 347.5 million renminbi ($56 million) in net profit on 26.6 billion renminbi in revenue ($4.3 billion) last year, CNET reported.That gives Xiaomi an operating profit margin of just 1.8%.Xiaomi has been focusing on attaining growth in emerging markets like China, Indonesia and India.The company's expansion has made its larger, more established rivals to sit up and take notice.