Xiaomi Dominates Global Wearable Band Segment, Reports Show; Share Prices Jump
Investing.com - Xiaomi Corp (HK:1810)’s shares jumped in Hong Kong on Monday after a new report showed the company dominated the global wearable bands segment in the third quarter.
A report compiled by Canalys showed that the wearable band market grew by 65% during the quarter, while Xiaomi saw the most shipments in the category. The company shipped 12.2 million units with 74.4% of growth year-on-year and reaching 27% market share for the quarter.
Xiaomi’s growth is attributed to “strong domestic performance and aggressive overseas expansion,” according to the report, which noted that Huawei trailed close behind thanks to a 290% boost from last year.
Xiaomi’s stocks in Hong Kong jumped 2.7% by 1:26 AM ET (05:26 GMT), up 2.7%.