According to According to Bloomberg, Xiaomi's success is partly attributed to rival Apple's failure in the Chinese market. Asia's largest smartphone market is still recovering after years of decline, with local manufacturers outperforming Apple. The recently launched Xiaomi 14 series garnered over 1 million pre-orders just days after its announcement 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. According to analysts at JPMorgan, the company's stock could continue to rise over the next six months. Analysts at Morgan Stanley and Citigroup also expect the Chinese smartphone market to pick up starting next year. On the other hand, the iPhone is losing popularity in China because many users simply don't see any technical advancements in this year's new products.
The Huawei Mate 60 Pro stands out with its unique camera capabilities and satellite communication in emergency situations, while the Xiaomi 14 series receives the latest Snapdragon 8 Gen 3 chip from Qualcomm, advanced cameras, and the HyperOS operating system which supports both the Internet of Things and vehicle ecosystems.
The Xiaomi 14 series is generating strong interest in its home country of China.
Analysts from Bloomberg believes that Xiaomi could surpass rivals Oppo and Vivo in its home market, while its popularity outside of China is "significant." Besides Xiaomi's own stock, the shares of its suppliers and contractors are also rising.
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