On Friday in early trading, things were still looking bad for the Xiaomi share: The shares of the Chinese technology group had fallen back to as low as 2.58 euros on the Frankfurt trading floor. Since then, however, the Xiaomi share has been on the upswing again, and before the weekend it was trading at 2.65 euros. On Monday, the shares gained another four percent to 2.74 euros. But it was about time, some investors might think – and in a different context, probably also one or the other user.
Xiaomi wants to fix a technical problem
Because as media unanimously report, Xiaomi is now addressing a technical problem that many smartphone users have apparently complained about. “The proximity sensor, which is supposed to turn off the display when making calls, does not work properly,” chip.de reports. Thus, the display of the Xiaomi smartphone remains activated even when it is held up to the face. Not only does this unnecessarily drain the battery, it can also lead to incorrect inputs.
Xiaomi has now announced improvements in two steps. According to GizChina, the company no longer wants to use the probably faulty sensors from the manufacturer Elliptic Labs, and sensors from Minghao Sensing will be installed in the future. The Chinese company is also working on a solution to refine the software, according to Giga, so that the problems are “fixed or minimized” for smartphones that have already been purchased. There is no info yet on when Xiaomi will roll out the update.
Xiaomi’s stock is off the rails
So neither users nor investors can really breathe a sigh of relief. Because despite the recent improvement on the stock market, the Xiaomi share is still quoted well below the mark of 3 euros, which was briefly exceeded again at the beginning of the month. The high-flyer from the previous year has obviously lost its footing: The gain from the past twelve months only amounts to around 35 percent.