Despite having launched just one smartphone to date, a valuation of Chinese manufacturer Xiaomi has suggested the company is already almost equal in value to Canadian giant RIM.
The assessment was triggered by a $216 million funding round, with the sum effectively valuing the two-year old company at $4 billion.
By comparison, the BlackBerry manufacturer's market cap currently sits at around $4.7 billion.
Low-cost high-end
Xiaomi co-founder and CEO Lei Jun has so far declined to reveal who was involved in what was the company's third funding round, though previous rounds have been led by by IDG and Morningside respectively, securing a total of $131 million.
To date, Xiaomi has brought just one smartphone to market the MI-One. The handset boasts a dual-core Snapdragon S3 and an Adreno 220 GPU, coupled with a relatively low price-tag.
The device has proved extremely popular since launch. Xiaomi has sold 70 million MI-One handsets so far, and generated more than $157.1 million in revenue. Lei Jun's announcement also pegged the company's profits at $15.7 million to date.
Looking ahead, Lei Jun has claimed "copying Apple is no way to go", suggesting a move on mobile commerce could be a possible avenue for the company to explore in the years ahead.
[source: Sina Tech via TechInAsia]
News
Related Articles
Top Stories
News
6 hours, 33 minutes ago
Nintendo releases first official statement on "the successor to Nintendo Switch"
News
7 hours, 2 minutes ago
Microsoft closes Mighty Doom dev Alpha Dog, Arkane Austin, Tango Gameworks and more
Feature
7 hours, 56 minutes ago
Mobile Mavens: The industry has its say on Squad Busters ability to draw in “untapped audiences” with its “influence from a range of genres”
Feature
10 hours, 43 minutes ago
Hot Five: Supercell’s Squad Busters supremacy, Brawl Stars bounces back, and a games industry journey at King
Feature
11 hours, 3 minutes ago
April 2024 mobile game charts: Call of Duty: Warzone Mobile loses launch momentum and Brawl Stars’ astronomical rise
Events
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Develop: Brighton 2024 | Europe | Jul 9th |
Mobidictum Meetup Barcelona September 2024 | Europe | Sep 1st |