Xiaomi's Smartphone Shipments May Rise This Year -- Market Talk

Dow Jones2023-02-06

0538 GMT - Xiaomi may gain from more smartphone shipments in 2023, due to China's reopening and as the supply chain normalizes, Daiwa Capital analysts John Choi and Candis Chan say in a research note. The analysts reckon that the tech company's smartphone shipments could reach 165 million units this year, compared with an ealier estimate of 158 million units, assuming Xiaomi's global market share reverts to the 2021 level of 14%. Daiwa also raises Xiaomi's 2023 revenue forecast by 1%. Daiwa upgrades the stock to outperform from hold, and raises its target price to HK$15.00 from HK$9.50. Shares are 5.0% lower at HK$12.80. (justina.lee@wsj.com)

(END) Dow Jones Newswires

February 06, 2023 00:38 ET (05:38 GMT)

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