Beijing, Dec 29 (Ians) Smartphone brand Xiaomi has announced that it is planning to invest over $15 billion into research and development (R&d) over the next five years, media reports said. According to GizmoChina, Xiaomi Chairman and founder Lei Jun said that the company’s goals for investment into R&d in the next 5 years have […]...
- 12/29/2021
- by Glamsham Bureau
- GlamSham
Giant Chinese smart phone maker Xiaomi has filed documents that put it on course for the world’s biggest Ipo this year. The company will list in Hong Kong and is expected to raise $10 billion, aiming for a valuation of about $100 billion.
Xiaomi is the world’s fourth largest smartphone manufacturer and has expanded into home appliances, software and entertainment.
“We are more than a hardware company. We are an innovation-driven Internet company,” chairman Lei Jun said in an open letter. He described the company as having a “triathlon” of overlapping business areas in hardware, new retail and Internet services. He made special mention of mobile payments, e-commerce, social media and short form videos.
The documents filed with the Hong Kong Stock Exchange are at an early stage of readiness and do not disclose the number of shares Xiaomi proposes to sell, nor the amount of new capital it plans to raise.
Xiaomi is the world’s fourth largest smartphone manufacturer and has expanded into home appliances, software and entertainment.
“We are more than a hardware company. We are an innovation-driven Internet company,” chairman Lei Jun said in an open letter. He described the company as having a “triathlon” of overlapping business areas in hardware, new retail and Internet services. He made special mention of mobile payments, e-commerce, social media and short form videos.
The documents filed with the Hong Kong Stock Exchange are at an early stage of readiness and do not disclose the number of shares Xiaomi proposes to sell, nor the amount of new capital it plans to raise.
- 5/3/2018
- by Patrick Frater
- Variety Film + TV
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