Xiaomi posted its first revenue uptick in almost two years, surpassing analyst expectations. The Chinese phonemaker’s revenue hit 70.9 billion yuan (US$9.9 billion) in the third quarter, marking a 0.6% year-on-year increase.

This was aided by the success of its new flagship phone models and comes as the global smartphone market shows signs of recovery.

Xiaomi also generated US$679.2 million in net profit for Q3, surging from US$205.6 million during the same period in 2022.

Currency converted from Chinese yuan to US dollar: US$1 = 7.17 yuan.