Overseas funds back Xiaomi
Source: Xinhua |
June 28, 2012, Thursday
|
Print Edition
Print Edition
CHINESE smartphone maker Xiaomi Corp has secured US$216 million during its latest round of financing, the company's founder and president said.
Lei Jun said the funding came from "leading international investment firms" but did not say who they were.
He also said Xiaomi has no plans to go public over the next five years, the China Securities Journal reported yesterday.
Xiaomi, which only started to sell smartphones in October 2011, has made efforts to produce high-end smartphones at affordable prices. The company's flagship Xiaomi Phone smartphone costs about 1,999 yuan (US$314) or less than half the price of an Apple iPhone 4.
Xiaomi has moved 2.7 million units so far, despite requiring customers to buy the phone in advance through the company's website due to its limited production capacity. Lei said the firm may sell 5 million of the phones by the year's end.
Last December, Xiaomi secured funding of US$90 million through a venture capital fundraising that attracted several foreign investors, including IDG Capital and Temasek Holdings.
Lei Jun said the funding came from "leading international investment firms" but did not say who they were.
He also said Xiaomi has no plans to go public over the next five years, the China Securities Journal reported yesterday.
Xiaomi, which only started to sell smartphones in October 2011, has made efforts to produce high-end smartphones at affordable prices. The company's flagship Xiaomi Phone smartphone costs about 1,999 yuan (US$314) or less than half the price of an Apple iPhone 4.
Xiaomi has moved 2.7 million units so far, despite requiring customers to buy the phone in advance through the company's website due to its limited production capacity. Lei said the firm may sell 5 million of the phones by the year's end.
Last December, Xiaomi secured funding of US$90 million through a venture capital fundraising that attracted several foreign investors, including IDG Capital and Temasek Holdings.
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