Xiaomi Q3 net income jumps on cost savings, revenue rises
Xiaomi Q3 net income jumps on cost savings, revenue rises
Chinese smartphone maker Xiaomi has reported a jump in third-quarter net income, beating estimates, as flat device shipments outperformed the wider market. The company's sales reached CNY 70.9 billion ($9.83 billion), while net income surged 183% to CNY 6 billion. The company's investors are also keeping an eye on its electric vehicle division, with plans to begin mass production in the first half of 2024.
Chinese smartphone maker Xiaomi has reported a jump in third-quarter net income, beating estimates, as flat device shipments outperformed the wider market. The company's sales reached CNY 70.9 billion ($9.83 billion), while net income surged 183% to CNY 6 billion. The company's investors are also keeping an eye on its electric vehicle division, with plans to begin mass production in the first half of 2024.
Chinese smartphone maker Xiaomi has reported a jump in third-quarter net income, beating estimates, as flat device shipments outperformed the wider market. The company's sales reached CNY 70.9 billion ($9.83 billion), while net income surged 183% to CNY 6 billion. The company's investors are also keeping an eye on its electric vehicle division, with plans to begin mass production in the first half of 2024. 
