Xiaomi has already reached its annual sales target
This summer, Xiaomi raised almost HK$5 billion in its initial public offering in Hong Kong. That sum means that the company entered the market with HK$17 per share, but the shares dropped by almost 30 percent ever since, reaching HK$12.28 on Friday. However, the recent news might push the shares' value back up, since Xiaomi already managed to sell 100 million handsets, its sales target for the entire year.
Back in 2017, Xiaomi sold 70 million handsets in the first 10 months. The good part is that the Chinese brand managed to hit its annual target before the end of the year as well. Now, with an increased target value, they still managed to pull this through. Its total sales volume for 2017 was 90 million units, so this year is definitely a very strong one for Xiaomi, especially with the release of its most expensive flagship to date, the excellent Mi Mix 3.
In China, Xiaomi still has a long way until being able to claim Huawei's crown. This year, Huawei managed to hit the 100 million units milestone in July and has hopes to reach the 200 million mark by the end of the year. However, Xiaomi is now leading the Indian market and continues to expand in Europe as well. The future looks quite interesting for the Chinese smartphone brands, so Samsung and Apple should be afraid. Very afraid.