As per the report delivered by the IT house this morning, i.e., October 13th, 2023, Tianfeng International analyst Ming-Chi Kuo took to Medium Platform, publishing an article this same day exhibiting the theme, “New Xiaomi is ready to go: the mobile phone business has regained growth beyond expectations, and the automobile business is facing a new trend.”
Besides the automobile being at the forefront, Guo Mingchi also optimistically cheers for the future performance of Xiaomi’s mobile phone venture. Putting all his faith in Xiaomi, Mingchi affirmed that the current Chinese smartphone market will pass the bottom and is expected to resume growth.
While the Mid-Autumn Festival and National Day holiday occurred in China, the sales of mobile phones witnessed remarkably significant growth within the boundaries of the nation. With approximately a 15% year-on-year increment already, mobile phone shipments in the last quarter of this year are envisaged to “regain growth” quarter-on-quarter and year-on-year. Since there’s no price competition amongst the smartphone manufacturers, the prices have also dropped compared with the previous year’s records.
With an impeccable increase in the number of shipments, Mingchi contemplates Xiaomi cutting across the bar with as hefty as 40 million to 45 million units, stating, “The key is that Xiaomi can also regain growth momentum in overseas markets.”
Moving on to the coming year 2024, Mingchi guesstimated Xiaomi’s mobile phone shipments to confront an increment in double digits, while profits in the fourth quarter of this year are foreseen to surpass market expectations.
Conclusion:
As written by Mingchi in a recent Medium article, the Chinese smartphone market is strongly expected to regain growth with the heavy shipments of the new Xiaomi units. What are your thoughts on this? Are Mingchi’s calculations and estimations about the table realistic? Share your views on the same by writing us feedback.
