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Xiaomi unveils new flagship smartphone, naming Chinese singer as brand ambassador to pump up domestic sales

Xiaomi, the world’s fourth largest smartphone supplier, launched a new medium-to-high-end model on Wednesday, naming an 18 year old Chinese singer and actor as brand ambassador in a move to shore up slipping sales in the hypercompetitive domestic market.The Mi 9, priced from 2,999 yuan (US$444) is the company’s first smartphone to be launched since it turned its budget Redmi line into an independent brand last month, a move that has enabled it to pursue the high-end segment of the smartphone… Source link

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Smartphone giant Xiaomi, Tencent Music among a dozen stocks to be added to MSCI China Index

Smartphone giant Xiaomi and online video platform Iqiyi are among a dozen listed companies to be added to MSCI’s benchmark Chinese equities gauge, the global index compiler announced on Monday. The inclusion of the stocks in the MSCI China Index at the end of February is likely to benefit them in the long term because they may attract global funds that track such indexes, said analysts. MSCI claims to serve “99 of the top 100 largest money managers”. “Those funds will not buy and sell frequently but [they will] hold…

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Apple and Xiaomi shipments plunge in China with Huawei bucking slump in industry demand

Apple Inc and Xiaomi Corp have both encountered a slump in shipments in China in the December quarter, the worst performers among the top five vendors in the country amid an overall shrinking of demand in the world’s largest smartphone market. Apple reported a 19.9 percent decline in shipments in China in the fourth quarter, but climbed one place to No. 4 in smartphone shipments after Xiaomi did even worse, tumbling 34.9 percent during the same period, according to a report by IDC, the industry researcher, published on Monday. Overall…

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China’s top movie ticketing app Maoyan extends IPO date, names Xiaomi as cornerstone investor

Maoyan Entertainment, China’s largest movie ticketing app backed by Tencent and Meituan, has extended its IPO subscription period and put off its listing date to February 4. It also named three new cornerstone investors, including a US$2.6 million of investment from Xiaomi. The Beijing-based company, with Tencent Holdings as its second-biggest shareholder, will extend its IPO book close date to “on or about January 25” from the original date of January 24, after which it will stop taking orders from international institutional investors, according to a renewed term sheet obtained…

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Hong Kong and China stocks edge lower led by Xiaomi on share sale report

Hong Kong and China stocks edged lower in early Wednesday trading, as a strong rally on Tuesday driven by China’s signals for fresh stimulus faded away. The Hang Seng Index dipped 0.2 per cent, or 45.18 points, to 26,785.11 as of 10:38am. The Shanghai Composite Index was down 0.1 per cent, or 2.6 points, at 2,567.75. The benchmarks jumped 2 per cent and 1.4 per cent on Tuesday, respectively. Chinese smartphone and home appliances maker Xiaomi led the decline and shed 1.9 per cent to HK$9.77, on the back of…

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Xiaomi CEO Lei Jun silent on US expansion plan amid trade war, focuses on European markets

Smartphone giant Xiaomi Corp is looking to sharpen its operations in Europe this year, as the US-China trade war casts a shadow on its expansion plans in the world’s biggest economy. “The European market is our main focus for international expansion this year,” Lei Jun, the chairman and chief executive of Hong Kong-listed Xiaomi, said in an interview in Beijing on Thursday, sidestepping a question about the firm’s activities in the US. “We aim to rank [either] first or second in [the smartphone markets of] various European countries, especially in…

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Xiaomi chairman Lei Jun’s pledge for additional 12-month share lock-up fails to stem stock slide

A pledge by Xiaomi Corp’s major shareholders not to sell any of their stock in the Chinese smartphone maker for another year failed to stem a slide in the share price following the expiry of a six-month IPO lock-up on Wednesday. Xiaomi’s shares fell as much as 5.4 per cent on Wednesday, trading 1.6 per cent lower at HK$10.92 as of 11:41am in Hong Kong. The benchmark Hang Seng Index gained 2.4 per cent. Chairman and chief executive Lei Jun, together with Smart Mobile Holdings Limited and Smart Player Limited,…

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Ecommerce 

China’s Xiaomi teams up with furniture brand Ikea on smart home devices

Chinese smartphone and appliance maker Xiaomi has announced a partnership with Swedish home furniture giant Ikea to produce smart lighting devices. “AI plus IoT is Xiaomi’s core strategy,” Xiaomi founder and chief executive Lei Jun said at a press conference in Beijing on Wednesday. “To connect everything needs collaboration with others.” Through the collaboration, the lighting products can be controlled through smart speakers including Xiaomi’s voice assistant Xiao Ai, which is currently only available for Chinese Mandarin speakers. “We have expertise in home furniture and we hope to learn technology…

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Xiaomi reports second straight profitable quarter on smartphone, IoT and lifestyle products boost

Xiaomi Corp, the world’s fourth largest smartphone supplier, reported a profit for the second consecutive quarter in the three months ended September 30, helping allay concerns about China’s saturated mobile phone market and slowing economy. The Beijing-based company on Monday posted a third-quarter net profit of 2.5 billion yuan (US$360 million), rebounding from a loss of 11 billion yuan in the same period last year, driven by strong smartphone shipments overseas and its growing internet of things (IoT) and lifestyle products segments. Revenue grew 49 per cent to 50.8 billion…

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Investment 

Xiaomi passes Chinese internet giant JD.com’s market cap within three days of listing

For the first time albeit briefly, Xiaomi passed JD.com in market capitalisation on Wednesday, as it aims to join the league of China’s biggest internet players such as Alibaba Group Holding, Tencent Holdings and Baidu. Xiaomi jumped by up to 4 per cent to a high of HK$19.8 on Wednesday morning, which took its market cap to HK$443 billion (US$56.4 billion), above Nasdaq-listed JD.com’s US$55.4 billion on Tuesday. It closed unchanged from previous day at HK$19, with a HK$425 billion market cap. The Hong Kong market was in decline on…

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