Is Huami an Undervalued Growth Stock?

Huami (NYSE: HMI) might not be a familiar name to most investors, but the Chinese company is actually the world's top wearable device maker. That's because it manufactures all of Xiaomi's (OTC: XIACF) wearables, which led the wrist-worn wearables market with a 17.3% share in the second quarter, according to IDC.

Xiaomi owns nearly a fifth of Huami, and Xiaomi CEO Lei Jun personally owns another fifth of the company. Xiaomi also covers all of Huami's design, manufacturing, marketing, and distribution costs for its Xiaomi-branded products. Huami covers those expenses for its own Amazfit products.

Image source: Xiaomi.

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Source Fool.com