The US crackdown on Xiaomi and other companies has also attracted the attention of the Chinese government. Chinese Foreign Ministry spokesman Zhao Lijian responded at the time that the Trump administration has “distorted the concept of national security, abused state power and repeatedly cracked down on Chinese companies for no reason, which China firmly opposes.”
Inverse historical trend, “the us relevant ACTS contrary to the principle of consistent brand of market competition and international economic and trade rules, interfere with the normal economic, trade and investment cooperation between China and the United States, against foreign companies in the United States investment confidence, will also hurt U.S. businesses and the interests of investors, this is some people in the United States another example of the dog in the manger.”Zhao Lijian said.
Stock price firm mobile phone shipments growth against the trend
Xiaomi’s Hong Kong share price fell 10 per cent the day after the sanctions were imposed, though the company’s shares quickly rebounded.Xiaomi’s Hong Kong shares closed at HK $29.20 on Jan. 29.
The good results have supported Xiaomi’s share price.According to a research report released by market research firm Canalys, in 2020, the smartphone market shipments in the Chinese mainland fell 11 percent year-on-year to 330 million units.
In terms of branch companies, the top five manufacturers in the Chinese mainland smartphone market in terms of shipment volume in 2020 are: Huawei, OPPO, Vivo, Xiaomi and Apple.Xiaomi and Apple are the only companies with positive shipments growth in two years.
Among them, Huawei (including Honor) shipped more than 123 million units in the Chinese mainland smartphone market in 2020, down 13% year on year, and ranked first with a market share of 37%.Xiaomi shipped 39.8 million units in the Chinese mainland smartphone market in 2020, up 3% year on year, ranking fourth with a market share of 12%.Apple ranked fifth in the Chinese mainland’s smartphone market in 2020, with shipments of 34.4 million units, up 14% year on year and a market share of 10%.