Xiaomi Q3 net income jumps on cost savings, revenue rises
Monday, 20 November 2023
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.
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