0732 GMT - Xiaomi's credit profile is likely to remain resilient this year despite weakness in its core smartphone business, says Fitch Ratings in a note. Rising memory costs could lead to a decline in smartphone shipments and profitability for the Chinese consumer electronics company, Fitch says. However, the larger scale and stronger cash generation of Xiaomi's internet of things and internet services segments, compared with previous smartphone downturns, should provide a buffer. "We expect Xiaomi to maintain its global market position in smartphones, a large net cash position and low Ebitda leverage," the ratings company says and sees Xiaomi's outlook as stable. Shares are up 0.3% at 26.22 Hong Kong dollars.