03 May, 2018
The newspaper South China Morning Post cited unnamed banking sources saying Xiaomi plans to raise up to $10 billion, which would value the company at $100 billion. In fact, this was the very reason why Alibaba chose NY exchange for their IPO debut in 2014. Hong Kong has changed the rule to accommodate shares of different classes and Xiaomi seems to be the first large company to take advantage of the same.
It's a big win for Hong Kong Exchanges & Clearing Ltd., whose officials spent years pushing to scrap a ban on weighted-voting rights, which give founders and executives control even with minority ownership. The company has posted a net loss of 43.9 billion yuan in 2017 while the revenue increased by 67.5 percent a year ago.
But the company said that 8.6 percent of its revenue and 39.3 percent of gross profit a year ago came from Internet services such as advertising and gaming on its MIUI user interface, which had 190 million monthly active users at the end of March. However, the company's revenue reached 114.62 billion Yuan ($18 billion) in 2017, which is up by 67.5 per cent against 2016.
Beijing-based Xiaomi is the world's fourth biggest smartphone maker by shipment volume, according to International Data Corp. It sold investors on a promise that it was not just a smartphone maker, but that it would use phones as a mechanism to sell services and ads to customers.
Xiaomi made headlines in 2014 when it became the world's most valuable startup. It looked destined to become an industry laughing stock, with market share sinking to fifth in China and seventh place globally, according to IDC. Despite rising sales, the company was hit by huge losses. They have also been in talks with the U.S carriers to bring Xiaomi to the American market.
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One can get the package without having to be present or signing for anything, they'd simply find it in the trunk of their auto . The Amazon Key app uses a camera and smart lock so Prime members can have deliveries put inside their home, or vehicle .
The company is also facing greater competition in emerging markets like India and Indonesia, where competitors Huawei, Oppo and Vivo are expanding.
Alongside smartphones, Xiaomi makes dozens of internet-connected home appliances and gadgets, including scooters, air purifiers and rice cookers, although it derives most of its profits from internet services.
The company bounced back through its retail strategy.
Xiaomi is a lot more than a smartphone company.