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Unread 2015-08-22, 12:17 PM   #1
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Default Why Xiaomi is Apple's biggest threat in China (and soon, everywhere else)






When the new iOS 9 comes out this fall, Apple's iPhone Maps app will finally offer public-transit directions. At first, the feature will be available for just 10 cities worldwide. Except in China, that is, where it's launching in more than 300 localities at once.
This is just the latest indication of how much Apple cares about China and its booming class of affluent consumers, which Tim Cook has said he expects to become Apple's largest market. If he's right, it will be because the company has figured out how to fend off one of the most unstoppable forces the tech industry has ever seen: Xiaomi.
Founded by serial entrepreneur Lei Jun in 2010 and headquartered in Beijing, Xiaomi announced its first smartphone in 2011. A little over three years later, research firm IDC declared Xiaomi to be the industry's third biggest player in terms of global unit sales, trailing only Samsung and Apple. Nearly all of the 61 million handsets it produced in 2014 were for the Chinese market.
In the West, Xiaomi has a reputation for shamelessly cribbing the iPhone's stylistic cues and applying them to dirt-cheap phones. That's clearly Apple design honcho Jonathan Ive's take: "I think it's theft, and it's lazy," he snapped, when asked about the company at a conference last October.
Xiaomi is doing too many interesting things to be dismissed as a mere Apple wannabe, though. Its Mi smartphones appeal to "a technically inclined, geeky, typically younger sort of customer who can't afford a top-of-the line Apple or Samsung phone," says Ben Thompson, whose Stratechery blog is avidly followed by tech-industry insiders. Xiaomi sells Android phones with fast chips, high-resolution screens, and other potent technologies via its own website—often via flash sales—and foregoes profits on hardware, instead generating them from its marketplace for apps, games, and other content. It rolls out weekly software updates based on input from its online community of fans, who spot bugs and propose new features. And it's using its muscle as a direct marketer to enter other product categories, ranging from 4K TVs to air purifiers.


None of this has prevented Apple from thriving in China, though, where the iPhone's powerful image as a luxury item helps it continue to command a high price tag. In fact, for two quarters in a row, Apple has sold more smartphones in the country than Xiaomi has.
The companies' global ambitions will increasingly collide, as Xiaomi has begun experimenting in markets outside China. It recently moved to sell accessories like headphones and activity trackers in the U.S. and Europe, though many of the factors that make the company a phenomenon back home—such as Lei's local celebrity—are moot here in the States. Xiaomi also lacks the sort of patent portfolio that would shield it from intellectual-property lawsuits from Apple or other companies. Meanwhile, its value proposition—high specs at low prices—may not resonate in fully developed economies. "In the U.S., the sort of person Xiaomi is competing for just doesn't exist," says Thompson. "Most geeks and enthusiasts can afford an iPhone."
A more promising battleground for Xiaomi could be India, where it has been wildly promoting the Mi4 and is setting up local manufacturing (to help it bring the price tag of its devices even lower), and where the free-spending types who snap up iPhones are scarcer than in China. There's also Brazil, which Xiaomi entered by storm in June with its $160 Redmi 2. (The iPhone retails for more than $1,000 in the country.) As Ben Bajarin, an analyst at Creative Strategies, puts it, these are "very big markets nowhere near saturated, where Xiaomi's strategy could do really well." Which is why Apple's home turf feels like safe ground—at least for now.
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Unread 2016-10-31, 10:12 PM   #2
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Outside China, Xiaomi seeks another home on US networks

It'll have to pass the tough carrier lab tests first, though.










Xiaomi's Global VP Hugo Barra holding a Mi Note 2 and a Mi MIX.












October 9th marked Hugo Barra's third year at Xiaomi, and as its Global Vice President, he watched the company evolve from a China-centric smartphone e-tailer to an IoT ecosystem with a growing international footprint. Xiaomi's recently entered Russia, Mexico and the Middle East, with Poland, Vietnam, Thailand plus a couple other Latin American markets next on the docket. But the long list is still missing one key region: the US. While the ex-Googler continues to stay mum on a launch date, he did reveal to Engadget that his team has already started testing phones in America. Such commitment is an important milestone ahead of the notoriously tough US carrier lab tests.




You see, US mobile networks use odd bands that aren't widely adopted in most parts of the world. So, to ensure compatibility, the local major carriers are notoriously tough when it comes to testing phones that want to be deployed across their networks. The well-established mobile companies are happy to oblige, of course, because selling their devices through the big US carriers guarantees sales volume due to their channels and customer base. More importantly, they're already familiar with the process and requirements; whereas Xiaomi, a relatively newcomer, is not.
A US launch may happen as soon as 2017.
This means Barra and his team have to practically start from scratch, in the sense that they have to learn everything about the testing methods and be physically set up shop in the US. The company has embraced the idea of going global under Barra's guidance, and Xiaomi is finally willing to make the investment, but he reckoned it will take a year or two before the company is ready for the US. Barra didn't reveal when exactly his team started this project, but based on his mention of a couple of test devices, my guess is that a US launch may happen as soon as 2017.
"Earlier this year we had a special version of Mi 5 that we made just for testing in the US, just so that we can start testing and doing small-field trials to sharpen our chops, if you will," Barra said. "And now we have Mi Note 2 which is another device that we can use for some field testing in the US. That's again just another small step in the right direction or in the direction of being able to launch full-on products there."

Of course, Xiaomi could just follow other Chinese brands and sell directly to US consumers. After all, Xiaomi is already offering its accessories and 4K Android TV box in its US online store (and also Walmart for the latter). But judging by Barra's emphasis on the carrier lab tests, his company appears to have already made up its mind. To make his point, Barra brought up how a Chinese brand -- no names mentioned here -- launched a phone in the US almost a year ago, but "it ended up being a complete flop." The reason was simple: It lacked Band 17 which is used on AT&T's LTE network, but said brand wrongly assumed that it wouldn't be an issue at the time (so it's pretty obvious which phone that was). Had that company worked more closely with either AT&T or T-Mobile, it would have been a completely different story.
"We're not going to launch something until we're ready," Barra said in reference to the technical preparation and team bandwidth required for a US launch.
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Unread 2016-11-01, 12:33 PM   #3
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I hope they do, i qas wanting to get redmi note 3 pro vut found out it wont work on US carriers and 4000mA/h battery. Some other nice features for 300 bucks or so. Im gonna get RN4P if it comes to US
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Unread 2016-11-01, 02:27 PM   #4
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Love those guys.
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Unread 2017-01-23, 10:45 AM   #5
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Hugo Barra, Xiaomi's international vice president, will leave his position with the Chinese smartphone maker next month, he said Sunday on Facebook
After serving as the public face and leader of global operations for Xiaomi for three and a half years, Barra said he will leave Beijing and return to Silicon Valley.
Prior to his joining Xiaomi in the summer of 2103, Barra worked as vice president of product management for Google Android and served as the division's product spokesman. He joined the then-fledgling Chinese company "with the opportunity to help turn a young rockstar startup into a global player."
His statement Sunday shed some light on his departure, citing personal reasons:
"What I've realized is that the last few years of living in such a singular environment have taken a huge toll on my life and started affecting my health. My friends, what I consider to be my home, and my life are back in Silicon Valley, which is also much closer to my family. Seeing how much I've left behind these past few years, it is clear to me that the time has come to return."
Bin Lin, co-founder and president of Xiaomi, replied to the Facebook post, thanking Barra for his service and announcing that his role would be filled by Xiang Wang, Xiaomi's current senior vice president.
He said that Barra and Xiaomi aren't parting ways entirely. Barra will still be "working closely with [Lin] in his new role as advisor to Xiaomi."
Xiaomi pointed to Lin's statement when asked for comment.
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Unread 2017-09-26, 04:14 PM   #6
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Report: Xiaomi May Pursue A New York IPO After $69B Valuation




Xiaomi could pursue an initial public offering at the New York Stock Exchange (NYSE) following a $69 billion valuation of the company that’s expected in 2018, some industry watchers believe, noting how the consumer electronics firm has a realistic chance of surpassing its yearly targets and concluding its fiscal year on a high note, consequently putting itself in a position that’s extremely conducive to a successful IPO. The company which already took the title of the most valuable startup in the world from Uber three years ago before losing it to the ride-hailing service provider in 2015 may now be on the track to surpass its valuation once again, tempting potential investors with an international IPO while simultaneously allowing its old backers to cash out if they so choose to.


Recent statements from the Beijing, China-based original equipment manufacturer suggested that as much as 100 billion Yuan ($15 billion) in annual revenue may be achieved this year, and the same goes for a figure of 100 million device shipments. Some investors reportedly believe that the $69 billion figure marks the firm’s current valuation, though such notions are hard to confirm or deny in light of the fact that Xiaomi is still a privately held company whose value is determined by its backers on a regular basis and isn’t prone to outside scrutiny. The recently unveiled Mi MIX 2 flagship is projected to be a strong performer for Xiaomi in the final quarter of the year, though many of its other offerings should also contribute to its nonuple-digit 2017 shipments; the firm has been doing extremely well in both its home country and India in recent times, hence recording strong performance in two of the largest smartphone markets on the planet, one of which isn’t even showing serious signs of saturation as of yet, thus showing massive sustainability potential.



The current state of affairs marks a stark contrast to how Xiaomi’s prospects were perceived come early 2017 when its founder and Chief Executive Officer Lei Jun said the company grew too fast for its own good and should refocus its efforts on sustainability instead of aggressive expansion. Nine months later, the Chinese tech giant seemingly found a way to do both and is set to conclude 2017 in an extremely positive manner, though it remains to be seen whether Xiaomi ends up pursuing an IPO as early as next year.
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Unread 2017-11-07, 10:29 AM   #7
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Lei Jun Confirms That Xiaomi Has Big Plans For Next Year





Xiaomi’s CEO, Lei Jun, spoke at the recent opening of a new, huge Mi Home store in China, and he said something rather interesting in the process. Xiaomi had unveiled its new Mi Home Shop in Shenzhen recently, in a huge space of 650 square meters, and during his speech, Lei Jun said that Xiaomi is aiming to become one of the top 500 enterprises in the world by next year, while he also expected that Xiaomi’s revenue surpasses 1 trillion Yuan in a decade, so within 10 years since the company was founded (Xiaomi was founded back in 2010).

For those of you who are unaware, Xiaomi had actually managed to ship out over 70 million smartphones this year already, which means that it beat its original goal, though it is now aiming to sell 90 million handsets by the end of 2017. Xiaomi had shipped out over 10 million smartphones in both September and October, which means that the company managed to sell 20 million smartphones in the last two months. Xiaomi’s sales are expected to go well over 80 million this year, the company will maybe even sell over 90 million handsets, and it seems like it is aiming to hit that magic 100 million number next year. Xiaomi had also managed to hit its target of 100 billion Yuan sales this year, and according to IDC’s report, Xiaomi actually managed to become the fifth largest smartphone manufacturer in the third quarter of this year, as the company managed to ship 27.6 million handsets in that quarter alone, and achieve YoY (Year-on-Year) growth of 102.6 percent, which is a considerable improvement.



Xiaomi has managed to get back to the right path this year, as the company’s sales were not exactly great for 2016. Xiaomi introduced a number of compelling smartphones this year, while the company also increased its offline presence in China, and is planning to continue doing so moving forward. It will be interesting to see how many devices will Xiaomi be able to sell by the end of this year, and will it improve its standing in China and on a global scale even further, as it’s facing fierce competition out there.
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Unread 2017-12-04, 12:15 PM   #8
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Xiaomi Wants A $50 Billion IPO Valuation At A Minimum: Report





Xiaomi is currently in the process of deliberating on an initial public offering and has been in talks with various banks on the matter, with the company’s minimum valuation target being set at $50 billion, Bloomberg reported on Monday, citing people close to the Chinese original equipment manufacturer. The development comes shortly after another source reported that Xiaomi is now closer to an IPO than it has ever been, stating that the firm has yet to decide whether the theoretical public listing would be made in Hong Kong or New York, though the former is presently understood to be much more likely.

Bloomberg’s sources have now reiterated the high likelihood of a Hong Kong listing but stated that no concrete decisions on the matter have yet been made. Insiders claim Xiaomi’s IPO could arrive as soon as next year, with previous reports suggesting the second half of 2018 as the most probable time frame. A $50 billion valuation would be even higher than the $46 billion one the company received as part of its last funding round in 2014, albeit its performance in the following period failed to maintain the initial momentum surrounding one of the world’s most valuable and fastest-growing startups. Still, Xiaomi managed to bounce back over the course of this year, having regained some of its performance in China and improved its prospects in India where it’s currently close to overtaking Samsung as the country’s largest phone vendor by both shipments and sales. Its rising performance in the world’s second largest smartphone market is one of the main reasons for optimism expressed by its executives, especially as India still shows no signs of saturation troubling other markets of somewhat comparable size.





An IPO would allow Xiaomi to raise billions of dollars and help further its international agenda, with the company currently having a presence in more than 60 countries and being adamant to continue its strong global push moving forward. The firm also started diversifying in recent years and is now manufacturing everything from smart speakers to air purifiers, albeit the majority of its non-smartphone offerings are still not available outside of its home country.
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Unread 2018-03-05, 12:40 PM   #9
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Xiaomi phones could finally go on sale in the US before the end of this year

Chinese smartphone giant Xiaomi could make its debut in the U.S. as soon as this year, according to its CEO.
Lei Jun, the serial entrepreneur who leads the phone maker, told The Wall Street Journal that the company — which is being linked with an IPO this year — plans to finally begin selling phones Stateside within the next twelve months.
“We’ve always been considering entering the U.S. market. We plan to start entering the market by end 2018, or by early 2019,” Lei told the paper on the sidelines of the annual session of China’s legislature.
The comments are the clearest indication to date of Xiaomi’s intention to compete in the North American market.
The company started out in China, and it has expanded its sales into Asia, Africa and parts of Europe. Its expansion into India, where it recently beat Samsung to the top sales spot, has been its most successful overseas foray. Xiaomi overcame a sales dip in 2016, when Lei Jun himself admitted that it had grown too fast, to enjoy a return to success in 2017.


That’s given the company the moment to go public, and Xiaomi is reported to be looking at an IPO in the second half of this year that would value it at as much as $100 billion. All without ever touching the U.S. market.
Xiaomi began selling accessories in America and other Western markets a few years ago, but so far it hasn’t introduced its phones, which are noted for offering high-performance at just a fraction of the cost of flagship devices from Apple, Samsung and others. Its top-selling Redmi range, for example, starts at around $150 and include phablet versions, while the higher-end Mi family is priced upwards of $300.

While it focused on affordable price points, Xiaomi is one of a handful of phone companies that offers a custom chipset for more power and a better experience.
TechCrunch understands that Xiaomi has invested considerably in building a patent war chest — including high-profile deals with Microsoft and Nokia — to ensure that it is ready for the U.S. from a legal perspective. The sale of its accessories has also allowed it to begin brokering partnerships with retailers, but it is not clear what progress it has made with carriers, who represent a critical distribution partner for OEMs looking to reach high volumes in the U.S..
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Unread 2018-04-13, 10:41 AM   #10
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Xiaomi reportedly wants to buy GoPro




  • Xiaomi is probably recognizable among our readers for its phones, and maybe even for its earbud headphones. But I doubt many of us think of cameras when we think of the 5th largest smartphone manufacturer. That said, someday we might. According to Bloomberg, Xiaomi is considering making an offer on GoPro.
    This news follows the January announcement that GoPro would be leaving the drone business as part of its broader financial woes. GoPro CEO Nick Woodman remarked in an interview at the time that he was open to selling the company. "If there was an opportunity to merge GoPro with a larger parent company," said Woodman, "that could help us scale our business and provide a better return on investment [...] we would welcome the opportunity to explore such an opportunity."
    Based on the news of Xiaomi's interest, it looks like he might have found a buyer. Details are still sparse, but The Information believes GoPro could fetch as much as a billion dollars, though I question the validity of a comparison to HP's acquisition of Palm.
    If Xiaomi does end up buying GoPro, I hope they do more than just use the name.

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Unread 2018-04-18, 12:55 AM   #11
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I have a couple of their action cameras and wifi home cameras and they are unbelievable for the price.
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Unread 2018-04-30, 07:42 AM   #12
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Xiaomi To Ship Over 100 Million Smartphones In 2018: Report

Xiaomi will sell over 100 million smartphones in 2018, if the lastest report is to be believed. Industry sources are claiming that Xiaomi has continued to ramp up its shipments globally, and that its shipments will cross 100 million units by the end of this year, which would be a considerable improvement over 2017 when the company managed to sell around 70 million smartphones. Sources are estimating that the company’s shipments may be 43 percent higher compared to last year.

Now, the company actually has some big plans for the future, as it plans to raise funds through a public offering in order to expand overseas, as the public offering would help the company increase its smartphone output. If a recent report is to be believed, Xiaomi may sell shared valued at $65-$70 billion through an IPO next month, though nothing has been confirmed just yet. Foxconn, Inventec, Largan Precision, and TSMC, companies that are a part of Xiaomi’s supply chain, are actually expecting new orders from the company due to its expansion. Now, Xiaomi has managed to strive this year, it claimed the number one spot in India by dethroning Samsung, while the company is actually doing really well in China, and in a number of other markets as well. This may come as a surprise to quite a few people, especially if the Chinese market is concerned, as smartphone sales in China declined YoY, so Xiaomi’s sales number may be quite surprising for some.


The company actually announced its Mi MIX 2S flagship recently, while the Mi 6X mid-range became official last week. Xiaomi is expected to rebrand the Mi 6X soon, and re-release it as the Mi A2, its second-gen Android One handset. The Xiaomi Mi 7 is also expected to arrive in the coming weeks, and if a poster which surfaced earlier today is to be believed, the device may land on May 23. The Xiaomi Mi 7 will be the company’s all-new flagship, and it will stand side-by-side with the Mi MIX 2S. The Xiaomi Mi 7 was actually expected to arrive this month (April), but Xiaomi opted to postpone its launch due to the recent arrival of the Mi MIX 2S.
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Unread 2018-05-03, 10:24 AM   #13
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Xiaomi’s $10 Billion IPO Question: If We Hype It, Will They Come?

Chinese smartphone giant tries to woo investors by selling itself as a broader provider of software and services




HONG KONG—Xiaomi Corp., one of China’s largest and best-known smartphone brands, is on course to launch the biggest stock sale the world will see the year. Its success hinges on whether it can convince investors that it is more than just a gadget company.
The Beijing-based company Thursday laid the groundwork for a blockbuster initial public offering in Hong Kong, capping a remarkable turnaround for what only 18 months ago was looking like one of China’s biggest tech flameouts.
Now, Xiaomi has to justify the sky-high valuation it is seeking. While the company didn’t disclose the terms of its stock sale in its filing with the Hong Kong stock exchange, people familiar with the matter say it is looking to raise at least $10 billion in the deal. The listing will, however, likely value Xiaomi at less than $100 billion, according to people familiar with the matter, a figure lower than previously had been discussed.
Xiaomi declined to comment on the valuation.

Various Xiaomi Corp. products sit on display inside a Xiaomi store in Beijing, China, on Tuesday, April 3, 2018. The Chinese smartphone maker filed for an initial public offering in Hong Kong on May 3, kicking off a process that's expected to raise at least $10 billion and confer a value of $100 billion on the eight-year-old company. Photographer: Giulia Marchi/Bloomberg Photo: Giulia Marchi/Bloomberg News



Investors are being asked to buy into Xiaomi’s transition from a maker of hardware into a provider of software and services, a shift that other big tech companies have been making as both hardware margins and the smartphone market shrink. Xiaomi also has its eye on bigger sales overseas, including in the U.S., at a time when Washington has been targeting other Chinese phone makers and tech companies.
That all could prove to be tough sell for Xiaomi. The company, revealing its financial results for the first time, said its share of revenue from internet services fell to 8.6% last year from 9.6% in 2016. A person familiar with the matter said this is the company’s most profitable segment. Xiaomi drew 70% of its $18 billion in revenue from smartphone sales last year.
“The whole premise of the business model is generating revenue from internet services,” said Neil Shah, an analyst at Counterpoint Research, which follows the smartphone industry. “Ideally, the services revenue would be much higher to give confidence to investors.”
Dialing Up

Xiaomi's IPO would be the third-largest tech stock sale globally, based on its expected target of raising at least $10 billion.



COMPANY, YEAR and LISTING VENUE

Alibaba Group
2014, New York

$25.0

Facebook
2012, Nasdaq

$16.0

Xiaomi
2018, Hong Kong

$10.0

Infineon Technologies
2000, Frankfurt/New York

$5.9

Agere Systems
2001, New York

$4.1

Snap
2017, New York

$3.9

Worldpay Group
2015, London

$3.8

Japan Display
2014, Tokyo

$3.1

First Data
2015, New York

$2.8

World Online International
2000, Amsterdam

$2.8




Sources: Dealogic; staff reports (Xiaomi)




Xiaomi, founded in 2010 by Chinese entrepreneur Lei Jun, is the world’s fourth-largest smartphone vendor, trailing Samsung Electronics Co. , Apple Inc. and Huawei Technologies Co. It also makes such devices as internet-connected rice cookers, body weight scales and electric scooters, all connected through a software platform known as MIUI. Xiaomi said it had 190 million MIUI monthly active users as of March.
Its low-cost yet stylish phones, such as its Redmi series, have won it a loyal and often passionate fan base in China, India and other emerging markets. In March, it launched a new version of its Mi Mix 2 flagship phone priced at 3,299 yuan ($51. At the launch event at a stadium in Shanghai, Mr. Lei frequently compared the phone to Apple’s iPhone X, boasting of better photography, longer battery life and a lower price tag.
In a public letter released Thursday, Mr. Lei described Xiaomi as an “innovation-driven internet company,” reflecting its wish to generate more sales from software and online services and less from hardware.
Xiaomi’s filing also laid out Mr. Lei’s tight control of the company: Any meeting of the board of directors must include him. Xiaomi also disclosed that it rewarded Mr. Lei in April with 64 million shares for “contributions to our company.”
Analysts said Xiaomi’s emphasis on casting itself as an internet company is driven by the higher valuation those companies fetch in the public markets. Yet by some key metrics, such as operating margins, Xiaomi is still behind internet services companies such as Facebook Inc. and Google parent Alphabet Inc., they said.

Wang Xiang, senior vice president at Xiaomi, left, and Canning Fok, co-managing director of CK Hutchison Holdings at an event in Hong Kong announcing a strategic alliance between the companies. Photo: Anthony Kwan/Bloomberg News


“If you compare Xiaomi, for example, to an Apple or a Huawei, then they won’t reach that kind of high valuation,” said Mo Jia, an analyst at Canalys. “But if you compare them to an internet company, the everything changes.”
Apple, the world’s largest and most valuable smartphone company, has a market valuation that is roughly 3˝ times its annual sales, according to S&P Global Market Intelligence. If a similar metric were applied to Xiaomi’s recent revenue figures, the Chinese company would have a market valuation of about $63 billion.

Xiaomi reported a net loss of 43.89 billion yuan ($6.9 billion) last year. Excluding one-time charges, it had a net profit of 5.36 billion yuan.
Xiaomi’s Hong Kong listing is expected to be followed shortly by a listing on the Chinese mainland, according to people familiar with the matter. Xiaomi would be among the first companies to list using so-called Chinese depositary receipts, which represent interests in the shares of foreign-listed companies.
Of major importance for Xiaomi is its continued success overseas, where it made nearly a third of its revenue last year. On Thursday, Xiaomi unveiled an alliance with CK Hutchison Holdings Ltd. in which the conglomerate will sell the tech company’s devices in 3 Group stores in Austria, Denmark, Hong Kong, Ireland, Italy, Sweden and the U.K.

On the sidelines of Beijing’s legislative session in March, Mr. Lei told The Wall Street Journal that Xiaomi could start selling its phones in the U.S. as soon as this year. However, U.S. regulators have grown increasingly hostile to Chinese telecom companies, recently sanctioning ZTE Corp. and pulling its and Huawei’s phones from American military bases around the world.
“Every day I think about the U.S. market,” said Xiang Wang, a senior vice president of Xiaomi, in a recent interview. He said the company still needs to build its brand recognition there. “Definitely we will continue to expand to new markets,” he said.
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Unread 2018-05-14, 10:35 AM   #14
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Assistant support coming to Xiaomi's smart home products, U.S. launch soon





Xiaomi has been working on smart home products for some time now, but the company announced that it will be adding Assistant support soon. But, in equally interesting news, it also said it will be launching some of those here in the U.S. in the near future.

The first items up for support will be the Mi Bedside Lamp, Mi LED Smart Bulb, and Mi Smart Plug. Though "soonTM" is vague and non-specific, at least those of you who use Xiaomi's smart home products can rest easy that you'll soon be able to control them through Assistant.



Wang Xiang

@XiangW_
Xiaomi just announced during #io8 that our smart home products will work with the Google Assistant. The initial selection of compatible products includes Mi Bedside Lamp, Mi LED Smart Bulb and Mi Smart Plug, which will be coming to the U.S soon! https://bit.ly/2IfnvQo



Of equal importance, however, is the mention of a U.S. launch. Xiaomi sells a few products here in the States, though none of them are phones. Despite abounding rumors that we'll see Mi and Redmi devices in America, Xiaomi is taking baby steps. I can't honestly say that I blame them, what with the paranoia about Chinese companies and all.
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Unread 2018-06-04, 09:28 AM   #15
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Some Investors Still Skeptical About Xiaomi’s IPO: Report


Xiaomi, one of the world’s most valuable startups, is expected to go public on the Hong Kong Stock Exchange next month, and while the company enjoyed a highly successful spell since early 2017, some investors remain skeptical about its overall prospects. Even as China remains the largest smartphone market on the planet, the firm recently dropped to the fourth position in its home country, having been outperformed by Huawei, OPPO, and Vivo, in that order. The overall demand for handsets in the Far Eastern market is also on a sharp decline that’s expected to continue this year, having been highlighted as the main reason for the history’s first drop in global smartphone shipments and sales by numerous industry trackers, with the last research firm to describe that trend as such being the International Data Corporation.

Reuters reports that some investors are also worried about Xiaomi’s profit margins, especially as the firm is going as far as to boast how little money it makes and plans to make on its hardware going forward. While that pledge didn’t encompass the company’s software unit which is understood to be much more lucrative due to its advertising-focused business model, the fact remains that Xiaomi is a company completely oriented toward growth instead of profit and appears to have no intentions of changing course following its initial public offering. That state of affairs is likely to discourage most investors who aren’t looking for long-term commitments, thus limiting the potential success of Xiaomi’s IPO. The company is still understood to be targeting a valuation of up to $80 billion, having reportedly set its IPO fundraising target at $10 billion in cash.
Another concern recently raised in regards to Xiaomi’s prospects is its growing focus on offline sales as new brick-and-mortar locations are expected to ramp up its operating costs in a significant manner going forward, eating into already thin profit margins. Xiaomi remains committed to that offline strategy due to its growth-first philosophy, having most recently expanded to new locations in India and Europe. Its stateside endeavors are also understood to be limited due to possible patent violations that it could end up being accused of in the United States, though the firm is expected to eventually try its lack with a more concentrated smartphone push in the world’s largest flagship market. Xiaomi‘s IPO will take place in the first half of July should the company receive final securities approvals for the move next week as it originally planned, according to recent reports and filings with China’s regulators.
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Unread 2018-06-08, 12:25 PM   #16
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Xiaomi Cleared For Massive Hong Kong IPO In July: Report


Xiaomi has been cleared for an initial public offering in Hong Kong by the local stock exchange, Bloomberg reports, citing sources familiar with the development. One of the largest technology floats in the history of trading is believed to be targeting a valuation of up to $80 billion, with Xiaomi being expected to raise some $10 billion in cash with the move. The IPO itself will also be the first Hong Kong Stock Exchange listing with weighted voting rights, meaning Xiaomi will be issuing non-equal shares, presumably so that founder and Chief Executive Officer Lei Jun maintains control of the company. While the listing structure in question isn’t unconventional in the West, Hong Kong’s exchange only allowed it through a rulebook change two months ago.

Xiaomi’s listing approval came following a Thursday hearing, with insiders claiming the company is already seeking to test investor demand which is likely to be significant. While some industry analysts remain skeptical about its overall prospects, the firm is still the world’s fourth-largest mobile manufacturer and is presently challenging Samsung for the title of the leading handset vendor in India, the fastest-growing smartphone market on the planet. The Hong Kong listing is expected to take place in the first half of July, with Xiaomi hence likely planning an investor roadshow in the coming days.
Xiaomi’s IPO will be the largest tech float since Alibaba listed itself in 2014 at a nearly double valuation. Besides debuting in Hong Kong, the OEM will reportedly be issuing depositary receipts in mainland China, becoming the first company int he Far Eastern country to do so. Goldman Sachs, Morgan Stanley, and Citic Securities will be underwriting the Hong Kong IPO, with a combination of Chinese and foreign banks being tasked with managing the sale of shares. A dual-listing strategy is seen as a relatively safe bet with higher chances of ensuring Xiaomi’s fundraising target than an individual bourse float.
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Unread 2018-06-13, 12:43 PM   #17
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Xiaomi wants to come to America, but it feels more stuck in China than ever



For all the traction China’s many smartphone brands have gained globally in the past decade, it’s in China itself where they remain most popular. And for good reason: because Chinese consumers don’t have access to many Western products or services. Xiaomi is one of the most popular smartphone brands in China, and while the unique market in that country has encouraged the company to think differently than its more global rivals in some ways, its latest smartphone strikes me as one built by China, for China. There’s nothing wrong with that in and of itself, but it makes me question just what Xiaomi’s pitch to the rest of the world will be, or if the company’s phones will ever matter outside a few, select regions.

The Mi 8, as you’ve likely heard, is one of Xiaomi’s least apologetic iPhone knockoffs in years. It looks like an iPhone X, sure, but the utter lack of subtlety doesn’t stop there: a 3D dot matrix Face ID clone, the exact same camera layout, gesture navigation (which is pretty good, by the way), the eye-rollingly similar product marketing photos - it’s clear this isn’t a case of flattery. Xiaomi is all but telling its customers in China that they can get an iPhone X for under $300.

And why wouldn’t they? Xiaomi is insanely popular in China, and the Mi 8 comes loaded with tons of the company's services (and partner ones, too) right out of the box. There is no doubt in my mind that Xiaomi understands its home market and customers in a way that I, as an American, never will. But also as an American, I fail to understand just how Xiaomi intends to ever be a success here.


And this isn’t me sniping critique from a half-mile away: Xiaomi invited US journalists to demo showcases for its products earlier this week specifically to try to make the pitch that the company is taking the US market seriously. Xiaomi wants Americans to understand its ecosystem approach and all the benefits that it comes with. Xiaomi’s business model is predicated upon the idea that, as its smartphone customer base grows, so too will the customer base for its Mi ecosystem devices and, more importantly, subscription software and media services. Xiaomi has even promised that it won’t make more than 5% profit on any hardware it sells, as though to assure customers that they are getting the very best deal possible. The company’s profitability is supposed to be predominantly derived from those subscription services I mentioned.

As to how that could ever work in America? Frankly, the responses I got to this question - one Xiaomi has likely faced countless times from American journalists now - were basically nonsense. A product manager essentially told me a half-dozen times that he worked for Spotify, and he’s an American, so he gets it. That’s… not an answer. Xiaomi was willing to acknowledge that the American market for things like email, cloud storage, streaming video, music, and smart home gadgets is intensely crowded. But there was no real pitch for how Xiaomi could leverage its hardware business to sell its own software and services to notoriously fickle Americans who already have tons of options for things like storage and streaming movies. The argument, in the end, boiled down to “if people buy some of our products, they will buy the rest of them.”

It’s just another take on the same very bad argument LeEco tried to use. And we all know how that ended.



And so, looking at the Xiaomi Mi 8 in my hand, running the Chinese language ROM sans any Google services or really any Western app, I began to realize this is what this phone is supposed to be. Slapping Google’s mobile app package on it and removing all the China-specific software customization just gets you another Android phone - albeit one with hugely impressive specifications at a great price. But it’s just another phone. And knowing that’s what Xiaomi’s phones would be were they ever to be sold in the US (and I have my doubts they will), flashes of LeEco’s disaster are impossible to ignore.

It felt like a parallel universe - one where Apple, Amazon, Google, Netflix, Dropbox, Nest, and dozens of other extremely successful companies never existed.

Unlike bold and brash LeEco, though, Xiaomi has been extremely careful in expanding its footprint. The company’s phones are just barely beginning to be sold in Europe, and it remains to be seen what kind of success they’ll have. There’s no doubt that for the buyer looking to maximize features and specifications on a budget, Xiaomi’s phones hold appeal. But as Xiaomi itself stresses, it’s not the phones that make the real money - it’s everything else. And as Xiaomi’s PR team shuttled us through its mock smart-home in San Francisco yesterday, full of Mi Ecosystem products, controlled by Mi Ecosystem apps, running on a Xiaomi smartphone, running MIUI, I was struck by just how much it felt like a parallel universe - one where Apple, Amazon, Google, Netflix, Dropbox, Nest, and dozens of other extremely successful companies never existed. And in China, most of them may as well not.

The problem for Xiaomi is that, in America, they do.
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Unread Yesterday, 01:14 PM   #18
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Xiaomi Lowers Valuation To $55 Billion-$70 Billion: Report


Xiaomi has reportedly cut down on its target valuation from the recently rumored $100 billion to between $55 billion and $70 billion after the company moved to postpone its initial public offering (IPO) in mainland China until after it launches its share offering in Hong Kong. According to a new report by Reuters, citing sources familiar with Xiaomi’s IPO plans, regulatory issues over the valuation of Xiaomi’s China depositary receipts (CDRs) have prompted the company’s decision to put off its IPO in China.

Earlier last month, it was reported that the Chinese smartphone maker filed for an IPO in Hong Kong with a target valuation of $100 billion, with the Beijing-based company reportedly hoping to raise some $10 billion in funding as part of the IPO. The share offering is touted as the 15th largest of all time and the most valuable of its kind since Chinese e-commerce giant Alibaba went public in 2014. Industry analysts speculated that Xiaomi’s IPO will lead to oversubscribed offerings as Hong Kong investors rely on heavy borrowing in order to buy as many shares of one of the world’s most valuable startups as possible, which would restrain the local equity market. The latest report comes as no surprise since it was reported in April that Xiaomi was set to file for an IPO in Hong Kong with a target valuation of between $65 billion and $70 billion, though earlier reports suggested that Xiaomi was considering pursuing an IPO at the New York Stock Exchange but it won’t likely materialize anymore after the Chinese firm was reportedly cleared earlier this month by the local stock exchange for an IPO in Hong Kong. The IPO itself will also be the first Hong Kong Stock Exchange listing with weighted voting rights, meaning Xiaomi will be issuing non-equal shares, supposedly so that founder and Chief Executive Officer Lei Jun maintains control of the company.
The company now plans to first launch its traditional IPO in Hong Kong before it proceeds with issuing any CDRs reportedly due to the fact that the rules meant to regulate them won’t be likely completed by the end of this month, which would complicate Xiaomi’s plan to launch its share listing in early July.
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Unread Yesterday, 01:14 PM   #19
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Xiaomi Places Dual-IPO Strategy On Hold Over Regulatory Issues


Xiaomi placed its dual-listing strategy on hold and is now planning to first complete a traditional initial public offering in Hong Kong before issuing any Chinese depositary receipts, the company said Tuesday. While no official reasoning for the decision has been given, Reuters reports the firm opted to postpone its CDR plans because the rules meant to regulate them likely won’t be finalized by the end of this month, making planning an early July listing a difficult affair.

Xiaomi may hence raise under $10 billion in Hong Kong and only reach its funding target following the completion of its CDR plans which were first reported earlier this month. The company is aiming to have its shares listed on the Hong Kong Stock Exchange in the first half of July, according to its previous regulatory filings. A dual-IPO strategy is widely interpreted as a safer bet for the firm that some investors still think is overvalued given the stagnation experienced by the global smartphone market in recent times, as well as Xiaomi’s long-term strategy which doesn’t prioritize profits over other performance metrics.
China only recently started creating an environment conducive to CDRs, having envisioned them as means of attracting more domestic tech firms to seek funding from investors in the Far Eastern country instead of going abroad. Xiaomi has yet to specify when it’s planning to resume its CDR application process, with some industry watchers predicting the company will resolve to do so by the end of the summer. Xiaomi may reach a valuation of around $80 billion on the public markets, propelled by its massive growth in India, the world’s fastest-growing smartphone market which the company only entered three years back but is already challenging Samsung for the title of the largest local handset vendor. The manufacturer’s latest high-end offering came in the form of the Mi 8, an Android flagship set to start retailing on a global level in the coming weeks.

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