BEIJING, Nov 20 Reuters Xiaomi Corp reported a small increase in revenue for the third quarter, though smartphone shipments were flat as China39;s economic recovery struggled to gather momentum.

Te smartphone maker39;s sales totalled 70.9 billion yuan 9.83 billion, beating an average estimate of 70.2 billion yuan from 13 analysts polled by LSEG.

Net income jumped by 183 from a year earlier to 6 billion yuan thanks to lower component costs and operating efficiencies across the business. That compared with a consensus estimate of 4.6 billion yuan.

1 7.2111 Chinese yuan

Reporting by Yelin Mo in Beijing and Brenda Goh in Shanghai Editing by Jacqueline Wong and David Goodman

Source Reuters