Xiaomi officially entered the exclusive club of US $ 100 billion following its market value which has now reached HK $ 775.6 billion or more than US $ 100 billion. This achievement is in line with Xiaomi’s consistent financial performance growth in showing a positive trend.
At the close of trading on the Hong Kong stock exchange on December 23, 2020, Xiaomi shares (1810.HK) rose by 7.59% or 2.25 points to HK $ 31.90. Since the beginning of the year, Xiaomi’s share price has increased by more than 180%.
With these results, Xiaomi joined the list of companies with a market cap of over US $ 100 billion, or often called the “100 Billion Dollar Club”. All cannot be separated from the positive performance shown in Xiaomi’s financial statements so far.
According to reports in the third quarter of 2020, the financial performance of the company, led by Lei Jun, is showing encouraging results. For example, Xiaomi’s total revenue grew 34.5% year-on-year to ¥ 72.2 billion (or the equivalent of IDR 155.9 trillion).
Amid pandemic conditions, smartphone shipments also grew 45.3% year-on-year to 46.6 million units. In addition, the number of connected smart devices, aka smart devices, also experienced growth, namely by 35.8% year-on-year to 289.5 million units.
Meanwhile, according to reports from Canalys, Counterpoint, IDC, and Gartner, Xiaomi also grew to become the number 3 global smartphone brand in the third quarter of 2020. Similar achievements were also shown in the Indonesian market by climbing to third place.
Xiaomi is also included in the list of 50 global companies that are considered to have promising potential in the future or the Fortune Future 50. Not only in the form of recognition of Xiaomi’s ability to withstand difficult times, but also the opportunities it can create to continue to grow into the future.
This milestone is a reminder that all things can be achieved thanks to the support and trust from Mi Fans in the vision of bringing innovation to all. Xiaomi will continue to strive to deliver amazing products at true prices so that everyone can enjoy a better quality of life through technology.
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