Huawei, the Chinese tech giant known for its smartphones and telecom equipment, may be preparing for an initial public offering (IPO), a move that contradicts its CEO’s past statements but could attract valuable investment capital.

CEO Ren Zhengfei has long asserted that the company wouldn’t go public, prioritizing bigger ideals of society. But a new report by Reuters suggests that this stance could change if China’s national interests are at stake, potentially paving the way for an IPO.

Huawei has faced significant challenges in recent years, particularly after being hit by US sanctions. However, the company has shown remarkable resilience, developing its own Kirin 9000s series chipsets and launching 5G smartphones despite the restrictions. It also recently announced the Qingyun L540 laptop powered by the Kirin 9006C, a 5nm chip, defying the U.S. sanctions again. 

While these advancements are impressive, the impact of foreign restrictions on Huawei’s growth is undeniable. Its profit margin plummeted to 7% in 2022, resulting in a net profit of just $5.1 billion. However, with its strong brand and technological prowess, Huawei’s potential market valuation remains high.

Reuters reports that Huawei could be worth $128 billion, based on a similar price-to-earnings ratio as Apple. This figure may even be conservative, with some experts like Lenovo’s ex-chief technology officer, Ni Guangnan previously suggesting a valuation closer to $1.3 trillion.

Chinese investors could play a crucial role in propelling Huawei’s growth, similar to the success story of SMIC, a chipmaker delisted from the US but thriving after a Shanghai IPO. By raising capital through public markets, Huawei might be able to accelerate its development and regain lost ground in the global tech race.
Only time will tell if Huawei’s IPO plans materialize, but the possibility marks a significant shift for the company.

In related news, Huawei’s former subsidiary, Honor also announced its own IPO plans in November. The spin-off has thrived since being sold by Huawei in 2020 and is expanding its reach in the global market gradually.

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(Source)

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Rivian, a US-based electric vehicles maker, made its debut on Wall Street and despite being a relatively young company, investors have now placed it in the same league as the most recognized brands in the auto industry.

On the first day of trading after its initial public offering (IPO), the company’s stock jumped 29 percent which gives it a market valuation of $86 billion. This is in line with the valuation of General Motors and higher than Ford’s.

What’s interesting about its valuation is that the well-known brands, among which Rivian now sits, produce millions of vehicles a year while Rivian started delivering its vehicles just this year, although the company has been around for over a decade now.

The bullish nature of the investors towards the electric vehicles market seems to have helped the company as they are now betting big on companies that show future promise and appear to have the ability to lead the market.

Compared to Tesla, which is currently the leader in the EV market, the valuation of Rivian is still a fraction of Elon Musk-led company which now has a market cap of over $1 trillion. Rivian is trading under the symbol “RIVN” on the Nasdaq.

Amazon and Ford are the investors in Rivian, holding 20 percent and 12 percent stake respectively, which is now worth around $17 billion and $10 billion. A couple of months ago, Amazon had valued its investment in the EV maker at around $3.8 billion.

Rivian was operating in stealth mode since 2009 and launched its pickup truck and SUV in November 2018. The company started with the aim of launching the Tesla Roadster competitor, but it pivoted to making SUVs and pickup trucks. It has been investing heavily to ramp up production, including for its upscale all-electric R1T pickup truck.

Earlier this year, Amazon announced the purchase of 100,000 delivery vans which will be produced by Rivian as a part of the online retail giant’s ‘Climate Pledge.’ The new delivery vans for Amazon are already operational in some regions in the United States.

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Rivian Automotive, a startup working on electric vehicles, is gearing up for an initial public offering (IPO) and the company is targeting a valuation of $54.6 billion, reveals amended prospectus filed by the company.

The startup says that it is planning to offer 135 million shares priced between $57 and $62, with an option for underwriters to purchase up to 20.25 million additional shares. At the high end of the range, that would give Rivian a valuation of over $60 billion on a fully diluted basis on its market debut.

It is being reported that the company is planning to go public as soon as next week and plans to get listed on the Nasdaq under the ticker symbol “RIVN.”

In its new filing, Rivian said that its investors, including Amazon and T. Rowe Price, have shown interest in buying up to $5 billion in shares in aggregate at the time of the IPO. The company will also be offering retail investors access to purchase a portion of its IPO shares through SoFi’s online brokerage platform.

For those who are unaware, Rivian is an electric vehicle startup which was operating in stealth mode since 2009 and launched its pickup truck and SUV in November 2018. The company was started with the aim of launching the Tesla Roadster competitor, but it pivoted to making SUVs and pickup trucks.

It has been investing heavily to ramp up production, including for its upscale all-electric R1T pickup truck, which was launched in September.

The company has received a significant amount of funding, including a $700 million round led by Amazon in 2019 and $500 million from Ford in April 2019. Recently, the company managed to get another $2.65 billion from T. Rowe and Amazon’s Climate Pledge Fund.

Earlier this year, Amazon announced the purchase of 100,000 delivery vans which will be produced by Rivian as a part of the online retail giant’s ‘Climate Pledge.’ The new delivery vans for Amazon are already operational in some regions in the United States.

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Xiaomi Corp‘s market value has just crossed the 100 billion US Dollar mark. The company has finally reached its IPO goal set in 2018, which it had failed to achieve back then.

According to a Bloomberg report, the Chinese tech giant’s market value cross 100 billion US dollars after it rallied as much as 9.1 percent earlier this week in Hong Kong. This marked a new record for the company and even made it the 13th stock in the city’s Hang Seng Index to have a market capitalization that was over 100 billion US Dollars. The company ended the day 7.6 percent higher, with a market value of 802 billion Hong Kong Dollars (roughly 103 billion US Dollars).

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Back in 2018, Xiaomi had aimed at a 100 billion US Dollar evaluation for its initial public offering. Although, the company had managed to achieve only half of that original goal upon its debut. Since then, the company has seen great success across the globe, especially in 2020. The news arrives after the smartphone maker saw strong sales with its shares having nearly tripled in 2020 after its post IPO struggles.

In November 2020, Xiaomi had reported its fastest quarterly sales growth in two years. These earnings had surpasses analysts’ expectations as the company remains one of the few Chinese tech firms that are able to see strong growth outside of its home country China. At the moment, the brand is also benefitting from China’s rollout of 5G technology, while also taking advantage of Huawei‘s current situation to take over its domestic market share as well.

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Kioxia Holdings, the former Toshiba memory unit, and the world’s second largest NAND flash memory chipmaker has announced that it has postponed its initial public offerings plan amid US-China trade tensions.

According to Nobuo Hayasaka, Kioxia CEO and President, “While we received significant interest from many investors, the lead underwriters and Kioxia do not believe it is in the best interest of current or prospective shareholders to proceed with the IPO at this time of continued market volatility and ongoing concerns about a second wave of the pandemic.” In other words, the company is bracing for the impact of the US sanctions on Huawei alongside the ongoing pandemic.

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As per a Nikkei report, the recent reinforcement of regulations against the Chinese tech giant, Huawei, had also affected the decision for the Japanese company. For those unaware, Huawei is a known client of Kioxia. Furthermore, the IPO itself had also garnered a lot of criticism from investors as the company was planned to list at a value of around 14 billion US Dollars, which would have been Japan’s largest IPO this year. However, the company was only actually offering just over 800 million US Dollars for the initial prospectus, which is nowhere near the funding it requires for its planned investments.

Kioxia has said that it would not give up on its IPO and would reschedule for the end of this year or the beginning of 2021. However, a source close to the matter stated that the “Huawei concerns will hardly be solved in the next three to four months.” 40 percent of all Kioxia sales are contributed by smartphone memory chips, and with the US sanctions taking effect from 15th September 2020, the company will lose a notable customer that made up just under 10 percent of its total sales.

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SMIC, the Chinese chipmaker, became one of the most valuable publicly listed companies as its shares witnessed a surge of 246 percent at the opening on its first day of trade in Shanghai, China.

The company, which is at the center of China’s plan to become self-sufficient in chipmaking, had already secured around $7.6 billion in pre-IPO share sales. Half of the company’s shares were initially sold to 4.3 million retail investors.

But there were more clamoring to get in when trading started, which resulted in the trading opening at 95 yuan (~$14) compared to the offer price of 27.46 yuan (~$4). The company’s listing has also attracted a wide range of retail investors such as Zhou Ziqing.

The share sale is the biggest on the mainland in a decade since Agricultural Bank of China’s more than $22 billion dual Hong Kong-Shanghai listing in 2010. It will be interesting to see SMIC’s first week of trading given that the Shanghai Star board has no limit on stock price movements in the first five days.

In an FT report, a senior official at the Shanghai stock exchange noted that the government plans to use its domestic capital markets to raise money towards China’s goal of technological self-sufficiency. The official added: “SMIC is benefiting from US-China tensions. We hope to compete with Nasdaq for Chinese tech companies.”

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SMIC is a contract chip manufacturers, which means that the company makes the semiconductors designed by other firms. It directly competes against the likes of Taiwan’s TSMC and South Korea’s Samsung Electronics.

However, the current technology used by SMIC is far behind its rivals. While others are manufacturing chips on the 5nm node, the Chinese company is still stuck on the 14nm node. But it seems to have started working on improving and advancing its technology.

Recently, as per the reports, Chinese smartphone maker Huawei shifted orders of its 14nm chips from TSMC to SMIC. The resultant chipset — Huawei HiSilicon Kirin 710A — became the first pure Chinese chip with independent intellectual property rights.

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(Source)

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Roborock Technology Co. Ltd., known as Roborock, which is backed by Chinese smartphone maker Xiaomi, raised around 4.5 billion yuan which is approximately $641 million through Initial Public Offering (IPO).

In the company’s trading debut on Shanghai’s STAR Market, the company’s share skyrocketed by 84.5 percent from its IPO price of 271.1 yuan and with that, Roborock’s market cap surged past 33 billion yuan, which is around $4.7 billion.

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The listing price of 271.12 yuan per share for Roborock is the highest issue price on the A-share market since 2010. It will use the IPO proceeds to develop next-generation robotic home cleaners and a data analysis platform.

For those who are unaware, China-based Xiaomi owns about 24.7% of Roborock, a robotic cleaning appliances provider, through its associated companies Tianjin Jinmi Investment Partnership and Shunwei Capital. Other investors in the company include Gaorong Capital and Qiming Venture Partners.

The company was founded in the year 2014 and as said, it designs and sells intelligent home cleaners and other cleaning appliances. The first product from the startup was launched in 2016, named Mi Home Robotic Vacuum Cleaner.

For its second product — Roborock Robotic Vacuum Cleaner, which was launched in 2017, the firm took the route of crowdfunding and raised more than 10 million yuan in just four hours of going live.

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As per the reports, the Chinese company has bought the Class B shares at an average price of HKD 9.76 (approximately $1.24), totaling nearly HKD 60 million, which roughly converts to $7.6 million. In a statement, Xiaomi said that the company’s board believes that the current financial resources of the group enable it to implement the share repurchase while maintaining a solid financial position.

It also added that its brand proposition with cost-efficient products “will be even more compelling in current market conditions.” Jin Di, longtime industry watcher and former analyst with IDC said, “Xiaomi shares have been negatively affected since the global consumer electronics market cooled in 2018, and the company intends to provide a boost to the market.”

Xiaomi’s share price slumped around 20 percent in the days preceding the expiry of the company’s six-month lockup period. The company has seen its market value nearly halve since it went public in Hong Kong last July as the smartphone market slows.

Last week, the company’s share price dropped by 3 percent following the sale of 231 million Class B shares by an undisclosed investor. Analysts believe that the company’s business performance, especially in internet services, wasn’t exciting enough and it failed to improve investor confidence.

In the year 2018, Xiaomi shipped nearly 1 billion devices. Apart from its hardware business, the company also has an internet services company, offering online music and movies to around 220 million users. It only accounted for 9.3 percent of the company’s total revenue in the third quarter of 2018.

Read More: Xiaomi announces creation of the African Regional Department to take on the market king, Transsion Holdings

In an annual meeting earlier this month, Xiaomi CEO Lei Jun announced RMB 10 billion (approximately $1.5 billion) investment plan in artificial intelligence (AI) and smart devices over the next five years. The company said it has confidence in its business outlook, which is driven by its smartphones and AIoT strategy — a convergence of AI and internet of things technologies.

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Faraday Future, the electric vehicle company co-founded by Jia Yueting, which has been embroiled in a financial dispute with its main investor, Evergrande had an event this week where it announced some “good news”.

It turns out that the company’s financial troubles are getting resolved. Faraday Future has received an emergency relief from the Hong Kong International Arbitration Center against Evergrande which allows it to find other ways of financing. Its search for new funding has yielded results as it has begun talks with blockchain company, EVAIO.

Reports say the outcome of the talks will see Faraday Future get up to $900 million in funding over a three-year period. Also, quite a number of EVAIO executives used to work at Tesla before, so Faraday Future will benefit from their wealth of experience.

Jia Yueting also revealed that he plans to take out 64% of his personal equity to motivate workers and another 40% of equity shares to provide an incentive for partners and outstanding talents ahead of a planned IPO in 2020.

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Mr. Yueting also mentioned plans for a new model called the FF81 which will be manufactured at its Hanford plant in California. Judging by the lower model number, the FF81 may cost less than the FF91 which has already entered mass production.

(Sources: 1, 2 Via: 1, 2, 3)

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Xiaomi group’s stocks tumble due to global equities sell-off in Asia. In a single day, Xiaomi stocks fell down by 9% to HK$12.5. The Chinese smartphone maker is not the only tech giant that has witnessed the drop, as even Tencent sank 7.4 percent. As of 11:53 Beijing time, Xiaomi’s decline reached to 9.16% taking the share price down to HK$12.5.

Most of the Asian stock markets are opening in red due to the US market crash yesterday in over 7 months. It has pushed the global equities to sell-off shares. In the US, stock markets experienced a drop of over 3-8% with Nasdaq dropping below 7.8% while the Dow Jones fell 3.1% in a single day. Due to the recent jump in the US interest rates, broad sell-off has been sparked.

Similar is the situation in Hong Kong and Taiwan stock exchanges. In Taiwan, iPhone component supplier Foxconn shares dropped by 6.9%. In Japan, the major tech giants fell by 4.6 percent. In India, the picture is depicting a similar story for various big companies.

Just a few months ago, Xiaomi Group’s stocks were listed at the Hong Kong Stock exchange. It made a less than impressive start on the Hong Kong stock exchange as its share price dropped to HK$16.60 (US $2.12) against the listing price of HK$17 (US $2.17).

Overall, Xiaomi has not witnessed a good start in the Stock market. Now, the global sell-off is resulting in further decline in the listing price of the Xiaomi shares.

• Read More: Xiaomi Mi Mix 3 launch countdown page pops up online, listed with Snapdragon 855!

Additionally, Xiaomi is ready to launch the Snapdragon 855 powered Mi Mix 3 very soon. It has garnered over 6 million sales of Xiaomi Mi 8 in China while Redmi 5A gained sale of 10 million units in India. Many new devices are slated for launch before this year ends.

(Via)

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Xiaomi has made a less than impressive start on the Hong Kong stock market after its stock dropped on the first day of trading. The company’s shares fell below 2% of the IPO listing price today, after trading at just HK$16.60 (US $2.12) instead of the listing price of HK$17 (US $2.17). In comparison, Hong Kong Exchange’s Hang Seng Index (HSI) was up by around 1.5% today.

It’s clearly not the start that Xiaomi would have hoped for. The company had priced its IPO at $17, the lowest figure in its range of $17-$22 that it had set earlier. Xiaomi reveals that it managed to raise around HK$23.97 billion, which comes to around US $3.05 billion. This IPO valued the company at around $54 billion, much lower than earlier expectations. A while back, there were rumours about an $80 billion valuation too, so this figure is indeed quite low.

Xiaomi’s less than impressive start could be attributed to investors sentiments towards the company’s valuation figures and its ability to generate profits. Although Xiaomi calls itself as an internet company, many analysts believe that it is still a hardware company. Further, majority of the company sales is concentrated on the low-end market where there is very little room for profits.

Another big reason for Xiaomi’s bad start could be because of the rising tensions between China and the US. Stocks in Hong Kong and Shanghai have taken hits with the former market’s benchmark index falling by over 10% as compared to early June. So the macroeconomic condition wasn’t really favourable for an IPO of a big company like Xiaomi.

RELATED: Xiaomi’s POCOPHONE device gets FCC Certification

Xiaomi’s IPO takes the total to $7 billion in new offerings in Hong Kong this year. The company became the first one to list under the new rule that permits dual class of shares on the Hong Kong market.

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After months of speculations and rumours, Xiaomi has finally filed for an IPO in Hong Kong. This marks a big win for the city of Hong Kong which has been trying to lure in tech companies to list in its stock exchange in recent times. In this regard, the city had made a few changes to its rules to allow for companies with multiple classes of shares to raise equity and this change seems to have paid off. It’s also an important milestone for Xiaomi as it opens its doors for public investors.

The IPO filings doesn’t mention the number of shares or the price per share but it is said that Xiaomi could be looking to raise at least $10 billion in its IPO. This should value the company at around $100 billion and it will likely be the biggest tech IPO of 2018.    In its filings, the company has revealed that 30% of the money raised would be used to develop its AI and IoT ecosystem, 30% would be used for R&D, and another 30% for global expansion. The remaining 10% would be used as working capital. Co-founders Lei Jun and Lin Bin will retain control of the company after the IPO through a special class of shares.

After a disappointing 2016, Xiaomi was quick to climb up the smartphone rankings ladder. In fact, yesterday’s Strategy Analytics report revealed that Xiaomi has climbed up to the fourth ranking in terms of global smartphone shipments, beating OPPO in Q1 2018. Sales in 2017 rose to 114.6 billion yuan, while the operating profit tripled to 12.2 billion yuan. The company posted a net loss of 43.9 billion yuan during this period but that was mainly because of pre-IPO preparations like issuing preferred shares to investors, making share based compensations and so on.

RELATED: Xiaomi Says Its Overall Net Profit Margin For Hardware Business Will Never Exceed 5%

Xiaomi’s IPO comes at a time when the global smartphone shipments are shrinking. Even the Chinese market has slowed down significantly. Despite this, the company has still managed to demonstrate great skill in steadily increasing its sales and revenue through changes in its offline strategy and global expansion. So, we know that the company can quickly adapt to the ever changing needs of the smartphone market.

Now that the company has filed for an IPO, expect a lot more details about its financials and operations in the coming months.

(Via)

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China-based smartphone manufacturer Xiaomi is gearing up to launch its Initial Public Offering (IPO). Previous reports suggested that the company could soon launch its IPO, the latest information reveals that Xiaomi could submit the application for listing in Hong Kong in early May.

While the company has not yet officially commented on this development, Hong Kong Economic Times published an article that says that the China-based company will file an application for IPO in the beginning of May this year and the company could be valued somewhere around $65 billion to $70 billion.

The latest report from Hong Kong Economic Times suggests that the Xioami could be valued around $65-70 billion but the earlier reports related to the China-based company’s IPO suggested that Xiaomi plans an IPO with $100 billion valuation, which could make it the largest tech float of 2018.

The company has reportedly roped in Morgan Stanley and Goldman Sachs Group for its initial public offering (IPO). Along with them, Credit Suisse Group AG and Deutsche Bank AG have also been selected by the company to work on the IPO.

Earlier, Xiaomi’s Senior Vice President Wang Xiang said in an interview with CNBC that the company is presently gathering the “resources” it needs for a major push in the U.S., which many believed as a hint for preparing for the IPO. A successful IPO will grant Xiaomi the much-needed inflow of funds to expand further into newer markets.

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Xiaomi was valued at around $45 billion when it last raised a funding round in 2014. Once, it held the title of the world’s most valuable technology company. Xioami also successfully achieved its annual revenue target of 100 billion Yuan ($15 billion) in October 2017. The company broke its target by 18 percent and recorded as much as $1 billion in net profit. For 2018, Xiaomi has set a target of $2 billion in profits.

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Huami, makers of the Amazfit smartwatch line as well as Xiaomi’s Mi Band line has filed for a $150 million US IPO. The company filed with the US Securities and Exchange Commission on Friday.

Huami which was founded in 2013 will list as HMI on Nasdaq. It is reported to have filed confidentiality in November, 2017. Credit Suisee, Citi, and China Renaissance are listed as underwriters.

In the SEC filing, Huami revealed that it is the sole partner of Xiaomi for the design and manufacture of Xiaomi-branded smart bands, watches, scales, and associated wearables with the exception of children watches and quartz watches.

Huami goes on to say that Xiaomi which owns 19.3% of the company’s shares is the sole customer and distribution channel for Xiaomi wearables. Sales of Xiaomi products contributed 97.1% in 2015, 92.1% in 2016, and 82.4% for the nine months ended on September 30 in 2017 to its revenue.

Huami also sells its own products which are not made for Xiaomi under the “Amazfit” brand. Products under the Amazfit brand cater to the middle and high-end market.

READ MORE: Amazfit Cor Band Officially Up For Grabs In China For 299 yuan ($46)

It is also important to mention that Huami doesn’t handle the production (their’s and Xiaomi’s) themselves. According to the listing, the production of the Mi Band and Mi Smart Scale series is contracted out to a number of manufacturers while theirs is assigned to a corresponding manufacturer.

(Source| Via)

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Xiaomi has come a long way in its few years of existence. Starting with smartphones, the Chinese company has branched out into several other products including TVs, vacuum cleaners, and cameras etc. However, its biggest decision will likely be made this year when it goes public.

Reports coming from China say Xiaomi may be valued at up to $200 billion when it goes public in H2 2018. The figure is said to have been given by Lei Jun and approved by an investment bank.

Xiaomi’s IPO has been in the news for a while. As at last week, Hong Kong bankers were said to be expecting it to reach $100 billion. Now that figure has doubled and if it does reach it, it will be two times more than that of Baidu which sits at $85 billion as at today.

Back in mid-2016, Xiaomi wasn’t expected to go public until 2025. Founded in 2010, Lei Jun had said the company would need at least 15 years before holding an initial public offering. Now, the song has changed and it may be happening 7 years early.

In 2017, sales improved for Xiaomi as it broke its target by 18% and recorded as much as $1 billion in net profit. For 2018, Xiaomi has set a target of $2 billion in profits.

READ MORE: Xiaomi Redmi Note 5 To Pack Snapdragon 632 Processor And 4GB RAM

Its lineup for this year includes the flagship Mi 7 which is expected to be its first phone with wireless charging. It will also launch the Redmi 5 and Redmi 5 Plus full-screen phones outside China before launching the Mi MIX 3 in the second half of the year.

(Source)

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According to recent data, Hong Kong raised $32.8 billion in equity capital in 2017, which is the lowest increase since 2008. But Hong Kong remains one the biggest equity capital-raising centers in the world, and now it is trying to recover. One of the plans is allowing dual-class shares just like New York exchange. Chinese tech companies like Xiaomi are attracted by the dual-class share structures and that is why they usually choose New York for their Initial Public Offerings (IPOs).

So Hong Kong will adopt dual-class shares, and it is expecting a $100 billion IPO for Xiaomi in 2018. According to bankers’ estimations, Xiaomi could be valued at up to $100 billion and this would make it the best valued Chinese tech company IPO. At the second place next year, there would be Lufax which is valued at $18.5 billion dollars: the difference is huge.

Tucker Highfield, the head of equity capital markets syndicate for the Asia Pacific at Credit Suisse, stated that over the next couple of years there is a good chance of $500+ billion market capitalization in the tech sector in China that could go public. Actually, regarding IPOs, Hong Kong ranks fourth globally, behind New York, Shanghai, and Mumbai’s National Stock Exchanges. Xiaomi, a single company, may contribute to change the situation in 2018. A 100 billion dollars IPO will grant Xiaomi the much-needed inflow of funds to expand further into newer markets.

(Source)

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Earlier, it was reported that Xiaomi is considering an IPO as early as the second half of 2018. According to the people aware of the development, who remains unnamed, Xiaomi is currently in talks with investment banks about a possible initial public offering as soon as next year, and Hong Kong is believed to be the most likely destination.

A successful IPO may raise around $5 billion in cash for the company, that could help Xiaomi to fuel the expansion. The China-based company last raised its funding round in 2014, at a valuation of $46 billion.

Lately, Xiaomi has been climbing up the ladder as one of the largest smartphone vendors. This year, the company registered a spike in terms of sales, after witnessing disappointing sales in the past year. Last year, the company was trailing behind the likes of Huawei, Oppo and Vivo in terms of sales.

Not only in China, the company is also capturing the smartphone market of India, which is touted as the world’s largest smartphone market. It recently was ranked the leading smartphone vendor in India, along with Samsung. Both the companies managed to grab 23.5 percent of Indian smartphone market, according to IDC.

Recently, it was reported that Xiaomi has overtaken Samsung in terms of smartphone sales, thus becoming the largest smartphone vendor in India. This comes after the company started focusing on offline sales of its smartphones along with online sales. It is also investing heavily in Mi Stores in India as well as in China.

Currently, there are around 11 Mi Home stores in India. But, Xiaomi previously said that it is planning to open 100 Mi Homes across India in the next two years. Last month, Xiaomi announced its third manufacturing facility in India, in partnership with Hipad Technologies. The latest facility is located in Noida, Uttar Pradesh and will be used for manufacturing power banks. Earlier, the company had established two facilities in Andhra Pradesh, in partnership with Foxconn, for making smartphones.

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Apart from China and India, the company is now also focusing on emerging markets, including Russia and Indonesia. The company also seems to be interested in establishing its presence in the United States, where it is currently selling accessories.

Recently, the company’s founder and CEO Lei Jun revealed that Xiaomi is aiming to ship 90 million smartphones by the end of this year. Earlier, Earlier, Lei Jin had said that Xiaomi aims to ship out 100 million smartphones in 2018.

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Xiaomi Inc. was founded in April 2010 and has grown from being called the ”Apple of China” to become one of the world’s largest smartphone manufacturers. Xiaomi which has included a smart bike and scooter, a rice cooker, TVs, air purifiers, smart bulbs, and even a body scale in its manufacturing portfolio, is expected to go public in 2025.

Lei Jun, Xiaomi’s founder, mentioned during a tech expo on Tuesday that after the company was formed in 2010, he knew it would need at least 15 years to hold an initial public offering (IPO), which puts the date at 2025.

The company has suffered a recent drop in market share as it has now been bumped out of the top 5 by two other Chinese manufacturers, Oppo and Vivo which are actually owned by the same parent company (BBK Electronics).

Xiaomi which mainly used an online only sales model has started putting up brick and mortar shops in places like Beijing and plans to have five to six stores in major cities.

The company is also looking to expand to North America and Europe after having added Brazil and India to their list of offices. Xiaomi is expected to launch a set-top box running Android TV in the US later this year.

The post Xiaomi Inc. Expected to Go Public in 2025 appeared first on Gizmochina.