Xiaomi revenue surges 64%, announces autonomous driving expansion

FILE PHOTO: The Xiaomi logo is seen at a Xiaomi shop, in Shanghai, China May 12, 2021. REUTERS/Aly Song

Smartphone maker Xiaomi Corp’s second-quarter revenue rose a record 64% from a year earlier, it said on Wednesday, announcing the purchase of an autonomous driving startup as it prepares to expand into the competitive market.

Sales reached 87.8 billion yuan ($13.56 billion), up from 53.54 billion a year earlier and beating analyst expectations of 84.53 billion yuan.

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