Xiaomi Dominates Global Wearable Band Segment, Reports Show; Share Prices Jump

Investing.com – Xiaomi Corp (HK:)’s shares jumped in Hong Kong on Monday after a new report showed the company dominated the global wearable bands segment in the third quarter.

A report compiled by Canalys showed that the wearable band market grew by 65% during the quarter, while Xiaomi saw the most shipments in the category. The company shipped 12.2 million units with 74.4% of growth year-on-year and reaching 27% market share for the quarter.

Xiaomi’s growth is attributed to “strong domestic performance and aggressive overseas expansion,” according to the report, which noted that Huawei trailed close behind thanks to a 290% boost from last year.

Xiaomi’s stocks in Hong Kong jumped 2.7% by 1:26 AM ET (05:26 GMT), up 2.7%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.