Xiaomi’s second-quarter revenue up 30.5%, boosted by smartphones

A rise in shipments of smartphones, especially in Southeast Asia, helped to boost Xiaomi’s second-quarter revenue by 30.5%, the smartphone and EV company said on Tuesday, against the backdrop of a sluggish global market.

Xiaomi President Lu Weibing, however, slightly lowered the company’s target on smartphone shipments to 175 million from a goal of 180 million set in the first quarter.