HomeBusinessXiaomi Q3 net income jumps 183%

Xiaomi Q3 net income jumps 183%

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Chinese company Xiaomi among top 5 smartphone manufacturers in India -  BusinessToday
  1. Xiaomi’s third-quarter net income jumps 183% to 6 billion yuan ($833 million), beating expectations.
  2. Revenue also tops estimates, coming in at 70.9 billion yuan ($9.83 billion)
  3. Xiaomi shipped 9.1 million devices in China, maintaining a stable performance compared to the previous year, outperforming the industry’s 5% decline in overall sales
  4. Xiaomi outperforms the wider smartphone market, with device shipments remaining flat while industry sales drop 5%.
  5. The company is also making progress on its new electric vehicle division, with plans to start mass production in the first half of 2024.

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