Details
📊 Quarterly Results: Xiaomi increased revenue by 30.5 percent to 116 billion yuan (16.1 billion USD), beating analyst expectations.
📈 Profit Surge: Net profit came in at 10.8 billion yuan, up 75 percent year-on-year.
🚗 Growth Driver: 81,000 delivered EVs fueled growth, while smartphone revenues stagnated despite higher volumes.
🌍 Market Position: Xiaomi is now the largest smartphone vendor in Southeast Asia and ranks second in Europe.
Big Picture
Xiaomi is transforming from a smartphone maker into a diversified tech company with a growing foothold in autos. Its strong EV business is offsetting weakness in its core segment and underscores China’s ambition to shape global e-mobility. For investors, the key question is whether Xiaomi can turn the auto unit’s heavy upfront costs into sustainable profits over the medium term.
Would You Buy a Chinese EV? |
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