Xiaomi Corp. exceeded analyst expectations by reporting a quarterly revenue of 92.5 billion yuan ($12.8 billion) for the September quarter. This represents a significant 31% increase in sales, which can be attributed in part to the company's recent entry into the electric vehicle market.
The electric vehicle venture contributed approximately 9.5 billion yuan to the overall revenue, highlighting Xiaomi's growing presence in this competitive sector since its launch in March. This strong performance demonstrates Xiaomi's strategic expansion beyond its traditional smartphone business, establishing itself as a notable player in the rapidly evolving EV landscape.