Xiaomi posts 64 per cent rise in revenue in Q2, snaps up DeepMotion for autonomous driving ambition

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Chinese smartphone giant Xiaomi Corp posted a 64 per cent increase in second-quarter revenue, just weeks after the company announced an ambitious goal to become the world’s largest smartphone maker in three years.

Xiaomi on Wednesday posted slightly better-than-expected revenue of 87.8 billion yuan ($13.56 billion) for the quarter ended June 30, up from 53.5 billion yuan a year earlier, helped by gains in smartphone market share at home and abroad.

Net income surged 84 per cent to 8.3 billion yuan in the period, beating the 6 . . .

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