Xiaomi Shares Keep Sliding While Its Smartphone Ambitions Soar
- Stock’s 40% slump this year is worse than rout in tech gauge
- Supply chain woes and stiff competition weigh on sentiment
A store in Shanghai. Xiaomi stocks are hovering near their lowest level in more than a year in Hong Kong.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Xiaomi Corp. stock remains one of the biggest losers among China’s technology giants, even after the company dodged Beijing’s regulatory crackdown and set its sights on becoming the world’s largest smartphone maker.
Despite overtaking Apple Inc. in the second quarter to become the No. 2 smartphone manufacturer behind Samsung Electronics Co., some analysts recently lowered their price targets and recommendations on the stock, citing slowing demand, strong competition and supply chain difficulties.