Although the heat of November 11, China’s largest shopping festival, has waned, Xiaomi is said to have achieved record sales.
According to CNBC on the 12th (local time), Xiaomi reported sales of more than 22.4 billion yuan on platforms such as Alibaba’s Taobao, T-Mall, and Jingdong from the 23rd to the 11th of last month.
Xiaomi also added that the smartphone Xiaomi 14 series ranked first in sales between the 4th and 11th at T-Mall.
On the Hong Kong Exchange, Xiaomi’s stock price rose more than 2% during the day.
HSBC previously said in a report on the 6th, “We raised Xiaomi’s smartphone shipment forecast to 150 million units, up 7% in 2023 and 160 million units, up 6% in 2024.
Looking at other brands, Jingdong Dotcom said that the trading volume of Apple products exceeded 10 billion yuan during the Gwanggun Festival. This is the same as the figure revealed by Jingdong Dotcom in 2021, CNBC explained. Sports brand Lululemon saw a 260% year-on-year increase in trading volume on Jingdong Dotcom during the period, a Chinese retailer said.
Alibaba and Jingdong Dotcom, China’s top two e-commerce companies, have not released specific figures related to overall sales of Gwanggunje since last year.
Jingdong Dotcom only said that the volume and order volume during the Gwanggunje Festival reached an all-time high. Alibaba is also reported to have only said that Taobao and T-Mall’s sales grew more positively than last year.