Xiaomi Corp raised about 1 billion USD in a new funding round that values China's largest smartphone vendor at 45 billion USD.The financing was led by All-Stars Investment Ltd and included Yuri Milner's DST and GIC Pte.

 

Xiaomi founder and Chief Executive Officer Lei Jun is expanding overseas and unveiling new products including an air purifier to build on growth in China, where Xiaomi overtook Samsung Electronics Co in smartphone sales. The company used a combination of high-end features and low prices to lure customers from Samsung and Apple Inc, and now is expanding into content and services.

 

In the third quarter, Xiaomi was the world's third-largest vendor behind Samsung and Apple Inc. Lei plans to sell 100 million phones next year.

Comments (0)

Name

Email

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment