Xiaomi's Market Value Crosses the $100bn Mark

Xiaomi's market value has finally surpassed the $100 billion mark, a figure that the Chinese smartphone company had failed to reach two years ago when it listed its stock on the market.

Now Xiamo's market share is close to reaching $103 billion, setting a fresh record of being the 13th stock in Hong Kong's benchmark Hang Seng Index to have a market capitalization above $100 billion.

The Company's fortunes reversed in August 2002, when it was added to the Hang Send Index. It's share price which was below the offering price of HKD 17 for most of the first two years more than doubled. Currently, Xiaomi's shares are being traded at HKD 31.9, while further gains are also expected in the future.

According to Bloomberg Tech, the Chinese smartphone company has also reported its fastest growth in quarterly sales in the past two years. The company remains one of the few Chinese tech firms to experience strong growth outside its domestic market.

It is also expected that Xiaomi will fill the Huawei's space after its competitor exited the android ecosystem.