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Xiaomi Corp Reports Revenue Growth and Profit Leap
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Xiaomi Corp reported a small increase in revenue for the third quarter, with smartphone shipments remaining flat. Te smartphone maker's sales totalled 70.9 billion yuan ($9.83 billion), beating an average estimate of 70.2 billion yuan. Net income jumped by 183% from a year earlier to 6 billion yuan, driven by lower component costs and operating efficiencies.
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How did Xiaomi Corp achieve a small increase in revenue despite flat smartphone shipments?
How does Xiaomi Corp's revenue growth compare to its competitors in the smartphone industry?
What were the specific cost savings and operating efficiencies implemented by Xiaomi Corp?
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