Xiaomi Sees Annual Decline in Q3 Net Profits and Revenue, Car Production Ran Smoothly
Xiaomi released its financial report for the third quarter of 2022 on November 23. Its revenue in the period was 70.47 billion yuan ($9.87 billion), down 9.7% year-on-year. Net profits were -1.476 billion yuan, while adjusted net profits were 2.117 billion yuan, down 59.1% year-on-year.
During a conference call, Wang Xiang, President of X…