The Xiaomi Mi 11 Ultra and Mi 11 Pro are already proving themselves to be big sellers for the Chinese manufacturer, by collectively raking in more than 1.2 billion yuan in sales in just one minute. The price tag for the Mi 11 Ultra in India, where it is being promoted as the SuperPhone, has apparently been leaked a few weeks before launch.
https://www.notebookcheck.net/Mi-11-Ultra-and-Mi-11-Pro-sales-rake-in-the-equivalent-of-over-US-182-million-in-60-seconds-for-Xiaomi-as-the-SuperPhone-has-its-India-price-tag-leaked.530646.0.html
This reported 5% margin is from years ago and is way off for their current premium phones which have way higher profit margins.