XIACY - Xiaomi Goes for the Jugular Against Beleaguered Huawei
Recent U.S. sanctions against Chinese tech giant Huawei, which has been accused of having close ties with the Chinese military, is creating some interesting ancillary stories and opportunities. Since U.S. sanctions cut off Huawei from leading-edge semiconductors last quarter, its main rivals in smartphones and 5G equipment could seize the opening.
Perhaps no opportunity is greater than the one for rival smartphone manufacturer Xiaomi (OTC: XIACY) . In its recently reported third quarter, Xiaomi's revenue surged 34.5% on the back of a 47.5% incease in smartphone shipments. The third-quarter boon at Huawei's expense catapulted Xiaomi into third place in total global smartphone shipments. Yet Xiaomi clearly isn't satisfied with those numbers, and recently made a move to double down its aggressive attack.
Image source: Getty Images.
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Xiaomi Goes for the Jugular Against Beleaguered Huawei