BEIJING, May 27 (Reuters) - China's Xiaomi ( XIACF )

reported a 47.4% annual jump in first-quarter revenue on Tuesday

as the company doubled down on making electric vehicles.

Revenue for the quarter ended March 31 was 111.3 billion

yuan ($15.48 billion), beating the 107.6 billion yuan average of

17 analyst estimates compiled by LSEG.

Adjusted net profit jumped 64.5% year-on-year to 10.7

billion yuan, ahead of the average estimate of 8.96 billion

yuan, according to LSEG data.

The world's third-largest smartphone maker, whose product

lines extend to home appliances and cars, announced its latest

electric SUV, the YU7, last week, which Xiaomi ( XIACF ) will start

selling in July.

Xiaomi ( XIACF ) did not disclose the price of the YU7 but suggested

its better configurations should make the car 60,000-70,000 yuan

more expensive than Tesla's best-selling Model Y, which

is expected to be its strongest competitor and is priced from

263,500 yuan ($36,574).

Xiaomi ( XIACF ) entered the auto sector last year with its sporty EV

SU7, which drew styling cues from Porsche and was priced below

Tesla's Model 3. Since December, the SU7 has outsold Tesla's

Model 3 in China on a monthly basis.

Xiaomi's ( XIACF ) SU7 deliveries have exceeded 258,000 units since

its launch, company founder Lei Jun said last week. Xiaomi's ( XIACF ) EV

business generated 18.1 billion yuan in revenue during the first

quarter, delivering 75,869 SU7 sedans. The adjusted net loss

related to its EV and other new initiatives reached 0.5 billion

yuan.

The company's new EV orders have fallen following a fatal

highway crash at the end of March involving an SU7 in

driving-assistance mode，analysts have said. Its problems have

been compounded by customer complaints of false advertising.

Xiaomi ( XIACF ) apologised earlier this month for "not clear enough"

marketing.

Still, Xiaomi's ( XIACF ) shares have rebounded since April, giving it

a market value of about $170 billion, higher than the roughly

$161 billion commanded by BYD, China's biggest EV

maker, LSEG data show.

($1 = 7.1920 Chinese yuan renminbi)

(Reporting by Che Pan and Brenda Goh; Editing by Muralikumar

Anantharaman)