Apple reported 19.9 per cent decline in shipments in China in the fourth quarter, but climbed one place to No. 4 in smartphone shipments after Xiaomi did even worse, tumbling 34.9 per cent during the same period.
The stock lost about 30 percent in the six months that followed its Hong Kong debut, the city’s worst-performing initial public offering with a value of at least $3 billion.
Billions of Xiaomi shares have been unlocked for sale after the six-month lockup period that followed the company’s debut expired. That’s enabled many shareholders, who could only watch as the stock shed $14 billion in market value, to finally join the selling.
Speaking at the company’s annual developer conference in Beijing, Xiaomi founder and CEO Lei Jun said AI and IoT will be the core strategy of his company’s business in the next five to 10 years.
Chinese smartphone maker Xiaomi has announced it will increase its Indian stores tenfold by the end of next year
Chinese tech giant Xiaomi is looking to cement its status as India’s leading smartphone provider by opening thousands of stores before the end of 2019.
The company’s products will be sold both online and in store, including at an authorised Mi outlet due to open in London’s Westfield mall on November 18.
Xiaomi Corp. News: Concerns about its longer-term prospects have scared off investors, shaving off more than a third of the company’s value from a peak shortly after its listing.
StockMarketNews.Today – Xiaomi’s shares initially rallied after its $4.7 billion Hong Kong initial public offering (IPO) in July, but have moved steadily downward since then on concerns about its ability to compete in the market’s more lucrative higher end with the likes of Apple Inc. and Samsung Electronics.
StockMarketNews.Today – Xiaomi’s senior vice president Wang Xiang made a formal announcement about it via his official twitter handle. He even shared some pictures of the newly opened largest Mi Home store in Wuhan.
StockMarketNews.Today – While the weak debut is disappointing for the bank, it also poses a challenge for Hong Kong Exchanges & Clearing Ltd., which has positioned itself as the international gateway to China’s markets. While Meituan jumped on its first trading day this month, IPOs such as Xiaomi and China Renaissance have represented a more typical pattern this year, with newly listed stocks falling 6.7 percent on a weighted-average basis.
Xiaomi’s sales keep growing lately and that’s despite the limited availability around the globe. The company is working hard on addressing that though and after arrivals in the Philippines, Hungary, and Austria, a Mi Store has just opened in Istanbul.
StockMarketNews.Today – The store is located at Vadistanbul Shopping Center and the opening of the brick-and-mortar shop gathered huge crowds who lined for gift cards, power banks, Mi Band 2 fitness trackers and 800 more surprises. It also offers all the latest mobile devices like the Mi Band 3, Xiaomi Mi 8, and the Android One-based Xiaomi Mi A2 smartphone.
StockMarketNews.Today – Chinese smartphone maker Xiaomi Inc (1810.HK) said on Friday it will rejig its businesses and create new leadership positions aimed at building a second tier to CEO Lei Jun, amid increased scrutiny of governance and successions at Chinese tech firms.
Xiaomi reported a rise in profit and revenue for the second quarter. Xiaomi’s revenue surges nearly 70 percent in the second quarter as smartphone growth remains strong.
StockMarketNews.Today – Strong performance in the company’s smartphone and internet of things business helped drive growth. Shares of the Chinese electronics giant have been under pressure amid worries that it cannot diversify its business away from hardware.