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Technology

China’s Xiaomi Q4 2023 revenue rises 11%, beats estimates

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By Reuters

BEIJING: Chinese smartphone maker Xiaomi reported a 10.9% rise in fourth-quarter revenue on Tuesday, boosted by strong smartphone sales in an industry showing signs of recovery.

Revenue reached 73.24 billion yuan ($10.17 billion) in October-December, versus the 73.17 billion yuan average of 15 analyst estimates compiled by LSEG.

Adjusted net profit rose 236.1% from the same period a year earlier to 4.9 billion yuan.

Xiaomi announces release date for first EV, shares surge

That compared with the 3.89 billion yuan average analyst estimate.

Xiaomi

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