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Xiaomi’s Stock Prices Surge 4.2% on Canalys Report

Published 02/03/2020, 01:56 AM
Updated 02/03/2020, 01:57 AM
© Reuters.

By Alex Ho

Investing.com – Xiaomi Corp (HK:1810)’s stock prices in Hong Kong surged 4.2% on Monday in Asia after research firm Canalys said the company continued to dominate India’s smartphone market.

In a report, Canalys said Xiaomi led the Indian smartphone market in the last quarter with shipments of 11.2 million units, which represented 29% of market share.

It was followed by Samsung (KS:005930) with 8.1 million units (21 percent share), and Vivo with seven million units and 18 percent share, and Realme and Oppo had 12 percent market share in the fourth quarter.

Meanwhile, reports that the Chinese manufacturer is preparing to release Android 10 for its Xiaomi Redmi 8A soon also pushed the company’s shares higher today.

Xiaomi is also about to launch its new Mi 10 and Mi 10 Pro. GizChina has previously reported that the two new models could be launched on February 11, the same day as the Samsung (KS:005930) Galaxy S20.

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