According to Bloomberg said Xiaomi’s success is partly due to the failure of rival Apple in China. Asia’s largest smartphone market is still recovering from years of decline, with local manufacturers outperforming Apple. The recently launched Xiaomi 14 series reached more than 1 million pre-orders just days after it was announced in late October. The launch of the Mate 60 Pro in August was also a success for Huawei after many years.
Investors are optimistic after witnessing recent efforts by Chinese manufacturers
In Xiaomi’s case, investor optimism is fueled by rumors that the brand is about to launch its first electric car, as well as the artificial intelligence (AI) technologies the company is developing. The company’s stock could continue to rise over the next six months, according to analysts at JPMorgan. Analysts at Morgan Stanley and Citigroup also expect the Chinese smartphone market to pick up next year. On the other hand, the iPhone is losing popularity in China, as many users simply don’t see any technical improvements in this year’s new products.
The Huawei Mate 60 Pro makes a splash with its unique camera capabilities and satellite communication in emergency situations, while the Xiaomi 14 series gets the latest Snapdragon 8 Gen 3 chip from Qualcomm, advanced cameras, and HyperOS operating system that supports both the Internet of Things and vehicle ecosystems.
Xiaomi 14 series creates strong attraction in its home country of China
Analysts from Bloomberg believes that Xiaomi can surpass rivals Oppo and Vivo in its home market, while its popularity outside China is “very significant.” In addition to Xiaomi’s own shares, the shares of its suppliers and contractors are also rising.
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