Xiaomi reports record revenue, profit for Q3, smartphone sales surged as it seizes Huawei's market market share

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Xiaomi Corp, one of the world largest smartphone vendors reported record revenue and profit for the third quarter on the back of strong smartphone sales overseas as the company has seized market share left by Huawei Technologies amid its struggles with US sanctions.

Xiaomi on Tuesday announced that its revenue grew 34.5 per cent year over year in the quarter ended September 30 to 72.2 billion yuan ($11 billion), compared to 53.7 billion yuan a year earlier. Its revenue from overseas markets, led by India and Europe, amounted to 39.8 billion yuan, driving . . .

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