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Xiaomi revenue edges higher but profit leaps on cost savings

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People check new products of Xiaomi ahead of the 2023 Mobile World Congress in Barcelona, Spain February 26, 2023. REUTERS/Nacho Doce/File Photo Acquire Licensing Rights BEIJING, Nov 20 (Reuters) – Xiaomi Corp (1810.HK) reported a small increase in revenue for the third quarter, though smartphone shipments were flat as China's economic recovery struggled to gather momentum. Te smartphone maker's sales totalled 70.9 billion yuan ($9.83 billion), beating an average estimate of 70.2 billion yuan from 13 analysts polled by LSEG. Net income jumped by 183% from a year earlier to 6 billion yuan thanks to lower component costs and operating…

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