Xiaomi IPO | Pixr8 News

The Chinese smartphone giant Xiaomi is reportedly planning to invest a part of the capital it raised from its recent IPO, into its Indian operations. The purpose behind this move is to build the ecosystem of internet services, make more startup investments and build India-specific IoT devices as stated by company’s India head Manu Kumar Jain. Along with this, the smartphone maker is also expecting to foray into the premium smartphone space in India which is currently being led by another Chinese giant OnePlus. “Some part of the global expansion money will be spent in India,” Jain stated in his first press interaction following the IPO. “We have had a great journey for smartphones, powerbanks and for Mi.com in India, but we can do a lot more on internet services, startup investments and...

China's Leading Smartphone and Device Maker Xiaomi has filed for Hong Kong initial public offering on Thursday, which is being considered as one of the largest listings by a Chinese organization in almost four years i.e since 2014. The announcement came right after company's official revenue posting that stood at 114.62 billion yuan (USD 18 billion) in 2017, up from 67.5 percent from 2016. The company also reported a net loss of 43.89 billion yuan in 2016. Xiaomi's IPO will mark the first listing in Hong Kong to happen after new rules (dual-class shares implementation) that will target to garner more tech listings, in the backdrop of a competition ongoing between Hong Kong, New York, and the Chinese Mainland. As per sources obtained from Hong Kong Exchanges & Clearing Limited,...

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