Xiaomi's Q3 revenue surged 30.5% to $12.8B, driven by EV sales, though the EV unit still posted a loss.

Xiaomi reported a 30.5% increase in Q3 revenue to $12.8 billion, largely due to growing electric vehicle (EV) sales. The company's SU7 EV model contributed significantly, with deliveries reaching 39,790 units and generating $1.3 billion in revenue. Despite the revenue growth, Xiaomi's EV business posted a loss of 1.5 billion yuan. The firm also maintained its position as the third-largest smartphone maker, with shipments of 42.8 million units. Overall, the company's adjusted net income rose 4.4% to $6.3 billion.

November 17, 2024
20 Articles

Further Reading