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Report: Xiaomi exploring a potential IPO in Hong Kong with a $50 billion valuation

Report: Xiaomi exploring a potential IPO in Hong Kong with a $50 billion valuation

Chinese smartphone manufacturer Xiaomi is reportedly eyeing up an IPO in 2018 with a valuation of at least $50 billion.

As reported by Bloomberg, the company is likely to list in Hong Kong if it goes public. Banks are said to be unsure if the valuation will reach $50 billion, and are highly doubtful it could cross $100 billion as some executives are hoping for.

The IPO could raise up to $5 billion for Xiaomi, which would aid in its continuing expansion into India. The company recently announced that it is looking to invest $1 billion in 100 Indian developers over the next five years.

Making moves

Xiaomi has made several big plays in India throughout 2017. In March, it set a sales record in India after selling one million of its Redmi Note 4s in just 45 days, and opened a second production plant in the country.

Overall, the smartphone manufacturer is looking to hit sales of $14.47 billion by the end of 2017. It is exploring avenues outside of India, including artificial intelligence and internet finance.


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Ric is the Editor of PocketGamer.biz, having started out as a Staff Writer on the site back in 2015. He received an honourable mention in both the MCV and Develop 30 Under 30 lists in 2016 and refuses to let anyone forget about it.

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