Xiaomi’s Market Value Has Reached $100 Billion
Xiaomi set the goal to reach a market value of $ 100 billion as a target in 2018. The Chinese manufacturer achieved its target with a delay of 2 years. One of the prominent companies among the Far Eastern technology manufacturers is definitely Xiaomi. In recent years, we have been hearing more and more of Xiaomi, and the market value of the company has reached the point of $100 billion.
In fact, the founder of the company Lei Jun, announced that they aimed to reach a market value of $100 billion in 2018, but it took 2 years longer than planned for them to achieve these goals.
Xiaomi stocks on the rise
Xiaomi’s share value rose 9.1% on the Hong Kong stock market and broke a record. The market value of Xiaomi, which ranked 13th in the Hang Seng Index, thus exceeded $100 billion. At the end of the day, the value of the company was $103 billion.
Xiaomi derives a significant portion of its revenue from smartphones. Xiaomi previously announced its goal of $100 billion. At that time, Xiaomi’s value was just over half of its current value and its shares were trading at $17.
Xiaomi’s market value increased after August. Since the announcement that Xiaomi will be included in the Hang Seng Index, the value of the shares has more than doubled. China’s double 12 shopping festival also helped the shares increase 20% this month. Companies at Hang Seng gained between 5% and 8% during this period.
Growth record from Xiaomi
Xiaomi also announced its fastest quarterly growth in the past two years in November. The company’s earnings also clearly outstripped estimates. Thus, the company succeeded in achieving its target even years after its prediction.