In 50 Words: Xiaomi’s Q2 income jumps 147% amid falling smartphone sales

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In 50 Words: Xiaomi’s Q2 income jumps 147% amid falling smartphone sales

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In Q2 2021, Xiaomi reported its income rose by 147% to US$705 million despite a 4% drop in revenue to US$9.24 billion.

Smartphone shipments from China and India fell 19% and 22%, respectively, due to diminishing consumer demand. Xiaomi plans to enter the electric-vehicle sector, aiming for mass production by 2024.

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