TOKYO: Chinese mobile device maker Xiaomi, riding a huge uptick in smartphone shipments, has landed $1 billion in a new, whopping round of private funding that values the company at some $45 billion, according to a report in the Wall Street Journal.
Xiaomi has emerged as one of the biggest names in the mobile industry in the past few years, standing out for both premium and mid-range phones at a great price.
Xiaomi co-founder Bin Lin took to Facebook with some interesting news.
“We just completed the latest round of funding last week, raising $1.1-billion at valuation of $45-billion. Investors include All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others,” Lin said.
Lin promised more innovation “with a goal of producing high-quality, high-performance devices with great user experience”.
Additionally, Lin said that Xiaomi would be unveiling its new flagship smartphone this month.
Of course, Xiaomi devices aren’t available in South Africa just yet, but I wouldn’t be surprised if the company announces an expansion of sorts in 2015.
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