Home » Xiaomi leaves the US blacklist. And the accounts pulverize the estimates

Xiaomi leaves the US blacklist. And the accounts pulverize the estimates

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Out of the blacklist wanted by the Trump administration, in which the rival Huawei and Zte remain, confirmed in March. Chinese big tech Xiaomi, the world‘s third-largest smartphone maker (second in Europe) and now an openly new actor in the crowded electric car race arena, recorded a title leap on Nasdaq after announcing that a United States court took off the mark of the Communist Chinese Military Company (CCMC). All restrictions on US citizens buying or holding its shares have been lifted.

“The United States District Court of the District of Columbia (which coincides with the capital Washington, ed) has issued a final order that frees the designation of the company as a CCMC by the United States Department of Defense”, he said. the smartphone manufacturer in a document filed with the Hong Kong Stock Exchange. The ordinance dates back to Tuesday. “The company reiterates that it is an open, transparent, publicly listed and independently managed company,” said Xiaomi president Lei Jun.

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This was the day when the company based in the Haidian district of Beijing reported results that went well beyond estimates: total turnover was RMB 76.9 billion ($ 12 billion), up by 54.7% compared to the previous year and against the 74.5 expected; gross profit was approximately 14.2 billion, an increase of 87.4%. Non-IFRS adjusted net profit was $ 6.1 billion ($ 954 million) versus $ 4 billion expected and up 163.8% from 2020.

The fortunes of Xiaomi, a player that has been on the rise for years, coincided with the disgrace of Huawei, struck two years ago by the ban of the Trump Administration. Huawei, which from 2 June will have its own operating system having to do without Android, has seen its market shares collapse while Xiaomi has literally exploded also for its own merits, given the success of the latest models, among which those of the series stand out Mi 11, but also lower-end products such as Redmi and Poco. In April Xiaomi rose to second place in sales in Europe, with 21% of the market share behind Samsung’s 35%, but ahead of the giant Apple (20%). Already in 2020 Xiaomi had overtaken Huawei, which dropped to less than 10% after having been second in line with Samsung for a long time and having surpassed it with 20% market shares in the second quarter of 2020. Right before entering the US blacklist. (Al.An.)

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