Date
23 October 2017

Xiaomi valued at US$10 billion, paper says

China’s smartphone maker Xiaomi Inc. has been valued at US$10 billion, sharing the top spot with San Francisco-based file hosting service provider Dropbox Inc. as the world’s most valuable unlisted venture capital company, the Apple Daily reported Tuesday, citing a report by Dow Jones and Wall Street Journal. Xiaomi’s valuation is the taking it beyond established rivals such as Canadian-based BlackBerry Ltd., which is valued at US$4.96 billion, and Taiwan-based HTC Corp. at US$3.78 billion. Xiaomi was founded in 2010 by Kingsoft Corp. Ltd. (3888.HK) chairman Lei Jun, and has conducted four rounds of funding totaling US$347 million. Xiaomi handsets have been extremely popular in the mainland thanks to its low-price strategy, the report said.

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