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Xiaomi announced that revenue exceeded expectations for the first time, reaching $9.9 billion, driven by its flagship 14 series, marking its first revenue growth in two years.
The company launches high-end models at home and abroad to actively challenge Chinese competitors. Sales in September were 70.9 billion yuan and net profit was 4.9 billion yuan, both exceeding market expectations.
Xiaomi is emerging from a years-long slump, and the 14 series may revive growth during the Chinese holidays. The global smartphone market shows signs of recovery, with Xiaomi and Huawei’s sales increasing by 11% in October. Investors are optimistic that Xiaomi will be a beneficiary of the recovery, with its market value increasing by about $19 billion since its June low.
Xiaomi also plans to enter the field of electric vehicles. The latest HyperOS system connects smartphones, TVs and electric vehicles.
(Source: Bloomberg Image source: freepik)
