According to a new report, Xiaomi Group’s stocks have been on a constant rise with its recent value rising by 4.73 percent. It was reported that before the day-end it had reached a price of 10.4 HKD which sets a new high for the company since July 2019. The current total market value now sits at 249.834 billion HKD or roughly 32 billion USD.

One of the factors leading to this consistent growth in value has been accredited to the Redmi K30. The smartphone is the first 5G handset from Xiaomi’s subsidiary, Redmi, which is a successor to the popular Redmi K20 series. According to various analysts and brokers, the smartphone is undoubtedly a factor in the rising stocks, with many reiterating on their positive views of the company’s market value.

Redmi K30 was unveiled on 10th December 2019 in two variants, namely a 4G and 5G version. The former is currently available for purchase while the latter will be available in January 2020. The smartphone arrives with top-notch specs and features (like 120Hz refresh rate and Snapdragon 765G) alongside its highlighting 5G networking capabilities at a very aggressive price; this marks the first time a 5G handset is available for under 2000 Yuan or roughly 286 USD.

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It is expected that the Xiaomi Group is set on a positive trend which would see its adjusted earnings increase by 29 percent in 2020. CICC (China International Capital Corporation) even gave the smartphone manufacturer an Outperforming rating and a target price of 13.5 HKD per share.

According to Lei Jun, the Founder and Chairman, Xiaomi will continue to promote and develop 5G smartphones in the near future with the release of smartphones over 2000 Yuan in the first half of 2020. The company is also expected to launch at least ten 5G smartphones in 2020 which is in line with many of its senior executives’ belief of 5G being an important advancement in technology.

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Redmi, a subsidiary of Xiaomi, has just launched its latest smartphone in its flagship series, the Redmi K30. It arrived in two variants, namely a 5G and 4G versions, which were officially unveiled yesterday (10th December 2019).

On 11th December 2019, Redmi’s General Manager said in a statement that, this time, the company has prepared sufficient stock for the Redmi K30 smartphones. Lu Weibing went on Weibo, the Chinese microblogging site, to share this statement to disprove any rumors or false information spreading which would discourage any potential buyer.

This arrives after the Redmi K30’s stocks came in to question which the Senior Executive dispelled as being untrue. Additionally, the smartphone’s camera module, which is Sony’s IMX686, was also rumored to be facing technical difficulties in its mass production. However, since the General Manager of the company himself has assured everyone of no such issues, then we can expect this to not be an actual worry anymore for would-be buyers.

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Lu Weibing also went on to reveal the date for Redmi K30 4G variants sale alongside a few of its key specs. He mentioned the smartphone’s 120Hz screen refresh rate, its 64MP Sony IMX686 camera (first 64MP camera from the company), the large 4,500mAh battery that supports 27W fast charging and Qualcomm’s Snapdragon 730G processor that powers the device.

Notably, during the launch of the Redmi K30 no specific date was given regarding both variants’ actual availability for sale. But now, it is confirmed that the 4G variant will be available from 10 pm on the 12th of December 2019 in China (12.12.19). On the other hand, the 5G variant will release next year sometime in January 2020.

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Xiaomi group’s stocks tumble due to global equities sell-off in Asia. In a single day, Xiaomi stocks fell down by 9% to HK$12.5. The Chinese smartphone maker is not the only tech giant that has witnessed the drop, as even Tencent sank 7.4 percent. As of 11:53 Beijing time, Xiaomi’s decline reached to 9.16% taking the share price down to HK$12.5.

Most of the Asian stock markets are opening in red due to the US market crash yesterday in over 7 months. It has pushed the global equities to sell-off shares. In the US, stock markets experienced a drop of over 3-8% with Nasdaq dropping below 7.8% while the Dow Jones fell 3.1% in a single day. Due to the recent jump in the US interest rates, broad sell-off has been sparked.

Similar is the situation in Hong Kong and Taiwan stock exchanges. In Taiwan, iPhone component supplier Foxconn shares dropped by 6.9%. In Japan, the major tech giants fell by 4.6 percent. In India, the picture is depicting a similar story for various big companies.

Just a few months ago, Xiaomi Group’s stocks were listed at the Hong Kong Stock exchange. It made a less than impressive start on the Hong Kong stock exchange as its share price dropped to HK$16.60 (US $2.12) against the listing price of HK$17 (US $2.17).

Overall, Xiaomi has not witnessed a good start in the Stock market. Now, the global sell-off is resulting in further decline in the listing price of the Xiaomi shares.

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Additionally, Xiaomi is ready to launch the Snapdragon 855 powered Mi Mix 3 very soon. It has garnered over 6 million sales of Xiaomi Mi 8 in China while Redmi 5A gained sale of 10 million units in India. Many new devices are slated for launch before this year ends.

(Via)

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