Xiaomi posts first sales rise in almost two years as phone market firms

Xiaomi Corp. posted its first revenue gain in almost two years, a welcome boost for a smartphone maker that’s begun aggressively attacking its Chinese rivals with higher-end models at home and abroad.

It posted sales of 70.9 billion yuan ($9.9 billion) for the September quarter, versus average projections for 70.5 billion. Net income was 4.9 billion yuan, compared with the average estimate of 4.3 billion yuan.

Xiaomi is emerging from a years-long funk, when global demand for smartphone and other electronics cratered and rivals from Huawei Technologies Co. to Apple Inc. and Oppo encroached on its once-dominant position.