Xiaomi, the Chinese smartphone manufactures market value is raised and is estimated to have reached $54 billion, which would be roughly Rs. 2,84,454 crores. After it is done with the latest round of fundraising, which was done last week. The company’s founder and chief executive officer, (CEO), Lei Jun said.
He even said in a micro blogging site Sina Weibo that the company raised $1.1 billion which would roughly be 6,999 crores in the fifth round of fund raising. He also said that Xiaomi would unveil a new heavy weight flagship products in January.
In the latest round of the fund raising includes All-stars, DST, GIC, Hopu Investments and Yunfeng Captial. Few Media reports says the company is likely to launch the Xiaomi Mi 5, a new generation smartphone.
The IDC, Global market research International Data corporation, in the latest report, said that, “the Xiaomi jumped into the list of the top 5 manufactures for the first time at number 3 position. Thanks to its focus on China and adjacent markets, which resulted in year on year growth hitting triple digits.”
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