Xiaomi Q3 Revenue Soars 22% Amid EV and Tech Expansion

Xiaomi, the world’s third-largest smartphone maker, posted a strong 22.3% year-on-year jump in third-quarter revenue, signaling the company’s growing diversification beyond smartphones. Revenue for the quarter ending September 30 reached 113.1 billion yuan ($15.9 billion), just shy of analysts’ average estimate of 116.5 billion yuan.

The company’s strategic focus on electric vehicles and smart technology is showing early signs of impact. While revenue narrowly missed expectations, Xiaomi’s adjusted net profit soared 80.9% to 11.3 billion yuan, well above the projected 10.3 billion yuan. This reflects the company’s ability to control costs and boost margins even amid competitive pressures in the global smartphone market.

Xiaomi continues to strengthen its position in multiple sectors, from smartphones and home appliances to EVs, aiming to become a key player in future mobility solutions. Despite the positive earnings, Hong Kong-listed shares slipped 2.81% to 41 HKD, though they remain up 18.2% year-to-date.

The results indicate Xiaomi’s dual strategy is paying off: balancing strong consumer electronics sales while investing in long-term growth areas such as electric vehicles. Analysts say this positions Xiaomi as a technology leader in Asia, with potential to expand its footprint globally in the coming years.