Xiaomi Corp Class B ( (XIACF) ) has released its Q3 earnings. Here is a breakdown of the information Xiaomi Corp Class B presented to its investors.
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Xiaomi Corp, a leading technology company based in China, operates in the smartphone and AIoT sectors, with a unique approach to integrating smart devices and artificial intelligence in its products. The company has reported a strong third quarter for 2024, achieving record revenue and solid earnings growth, driven by its smartphone and AIoT segment and new ventures in the electric vehicle market. Key financial highlights include a 30.5% year-over-year increase in revenue to RMB92.5 billion and a 17.2% rise in gross profit to RMB18.9 billion. The company’s strategic focus on premium smartphone offerings and the expansion of its smart EV segment have contributed significantly to these results. Xiaomi’s management remains optimistic about the future, aiming to leverage its technological advancements and strategic initiatives to drive further growth in the coming quarters.