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.

That said, smartphone revenue and ASP slipped this quarter. Xiaomi follows up on its record-setting Q1 with a similarly strong Q2 result this year.

HONG KONG] Xiaomi’s quarterly revenue rose a slightly better-than-anticipated 31 per cent after the successful launch of its second electric vehicle helped counter slowing demand for smartphones. Read more at The Business Times.