Xiaomi officially enters the $100 Billion club as its stock price hikes up to HK $31.90

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Xiaomi is surely having a great time in the stock market as its price of stock continues to grow and has achieved a record high of 31.90 Hong Kong dollars as of December 23rd reports. With its market value exceeding HK$775.6billion, this Chinese tech giant has officially entered the US$100 billion club.

Xiaomi’s recent increased stock price may have a lot to do with its upgraded “Smartphone x AIoT” strategy launched in 2020. This strategy is well recognized in the capital market as well. Its smartphone markets are also doing well overseas.

Pandemic has hit hard the global economy, but Xiaomi’s success at such time surely acts as a ray of hope. Xiaomi’s 2020 Q3 financial report states global smartphone shipments have reached 46.6 million units, a year-on-year increase of 45.3%,assuring the company third place in the world.

Besides this, the company’s smartphone shipments in European countries have increased by 90.7% year-on-year, with a market share of 18.7%. According to the reports, Xiaomi sold more than 8 million smartphones globally.

Additionally, Xiaomi’s number of connected IoT devices (excluding smartphones and laptops) on its AIoT platform has reached about 289 million. This gives the company the position as the world’s leading consumer IoT platform.

If we look at the reports, the price of Xiaomi’s stock has increased by more than 180% since the beginning of 2020.

In an official blog-post, Xiaomi said,

“As we reach this important milestone as a company, we’re reminded it is all made possible thanks to our Mi Fans’ support and trust in our vision of innovation for everyone. Xiaomi will continue to relentlessly provide amazing products at honest prices so that everyone can enjoy better life through the most up-to-date technologies. We will also continue to lead the industry with original innovations and focus on surprising and being friends with our users”.

Xiaomi is aiming to come up with world’s first Snapdragon 888 handset- Xiaomi Mi 11. The company will hold a press conference on December 28th.

We have high hopes for this upcoming device from the house of Xiaomi. It will be fascinating to see if Xiaomi can pull off this kind of staggering record in the future with its upcoming devices or not.

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