Xiaomi Mi 8 series sale boosts Xiaomi's share price

Today, Lei Jun announced on Weibo that the shipment of Xiaomi Mi 8 flagship series has exceeded 6 million units. Recall that the Xiaomi Mi 8 series was launched on May 31st, 2018 in Shenzhen thus the series took only four months to achieve this feat. The Xiaomi 8 series has shown that Xiaomi has established a foothold in the high-end market. Lei Jun also announced that in order to thank the market for its support, the standard version of Xiaomi Mi 8 will drop 200 yuan ($29) and the new pricing will be

• 6GB+64GB version = 2499 yuan ($361)
• 6GB+128GB version = 2799 yuan ($404)
• 8GB+128GB and 6GB+256GB version = 3099 yuan ($448)

Affected by this news, Xiaomi Group's share price began to rebound, within the session, its share price rose 2.8% to HK$13.96. Before the deadline, it reported HK$13.78, an increase of 1.47%. Since September 21, the stock price of Xiaomi Group has fallen successively. On October 8, the lowest was at HK$13.58, down 4.90% on the day and down more than 20% from the issue price of HK$17, and the Hong Kong stock market was HK$342.7 billion.