By Yifan Wang
Xiaomi Corp. (1810.HK) said its third-quarter net profit rose slightly from the previous year, as higher sales of smart-home devices offset weaker smartphone revenue.
Net profit for the third quarter was 2.53 billion yuan ($359.7 million), compared with CNY2.50 billion in the year-ago period, the world's fourth-largest handset maker by shipment said Wednesday.
Revenue rose 5.5% from a year earlier to CNY53.66 billion, the company said.
It said smartphone sales fell 7.8% amid industry challenges as consumers take longer to replace their devices.
Xiaomi's lifestyle products such as smart TVs and home appliances delivered a 44% surge in revenue, the company said.
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