Xiaomi shares surge in China

According to Bloomberg said Xiaomi's success is partly due to the failure of its rival Apple in China. Asia's largest smartphone market is still recovering from years of recession, with local manufacturers outperforming Apple. The recently launched Xiaomi 14 series reached more than 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 the recent efforts of 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 it 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 improvements in this year's new products.

The Huawei Mate 60 Pro makes a splash with its unique camera capabilities and satellite communication in emergency situations, while the Xiaomi 14 series gets the latest Snapdragon 8 Gen 3 chip from Qualcomm, advanced cameras, and HyperOS operating system that supports both the Internet of Things and vehicle ecosystems.

Xiaomi 14 series creates strong attraction in its home country of China

Analysts from Bloomberg believes that Xiaomi can surpass rivals Oppo and Vivo in its home market, while its popularity outside China is “very significant.” In addition to Xiaomi’s own shares, the shares of its suppliers and contractors are also rising.

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