China's top wearable firm made its NYSE debut Thursday, closing up over 2% despite the Dow's 1,000 point drop. Tim Stenovec spoke with David Cui, CFO of Huami, to discuss the company's decision to go public.
Huami is a biometric and activity data-driven company with a focus in smart wearable technology. The company shipped 11.6 million units of smart wearable devices in the first nine months of 2017, more than any other company in the world, according to Frost & Sullivan. Cui explained how the company plans to gain a bigger marketshare of the global market.
Huami has been the sole partner of Xiaomi, a mobile internet company and global consumer electronics brand. Xiaomi is now one of the largest unicorn companies in the world and is expected to go public in 2018. Cui described the special partnership and how Huami will continue to capitalize on the rapidly growing smart wearable market in China.
The Court of Appeals for the Federal Circuit on Thursday allowed the president to temporarily continue collecting the tariffs under the emergency powers law while he appeals the trade court’s decision.
Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that a trade war launched by the U.S., trimmed its profit forecast for 2025.
