Investing.com - China’s smartphone maker Xiaomi Corp (HK:1810) expects to ship out more than 100 million phones by the end of October, but it did not reveal the volume of sales, according to a statement on Thursday.
Despite the good news, its shares fell 3.43% to HK$11.84 in the morning.
According to its interim report, the company’s international revenue surged 151.7% year-on-year to RMB16.4 billion (US$2.36 billion), accounting for 36.3% of its total revenue. Xiaomi’s smartphones had the largest market share in India in the second quarter this year, according to technology market analyst firm Canalys.
Xiaomi was ranked among the top 5 in the smartphone market in 25 countries and regions, the report said.
The company is worth $35.4 billion after listing in Hong Kong in July at a $54 billion valuation, far from the $100 billion target it set earlier, according to a Bloomberg report.