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Chinese smartphone maker Xiaomi valued at US$45b

Latest US$1.1b fund-raising makes it worth more than Sony or Nokia, on par with Yahoo

Hong Kong

XIAOMI, the fast-rising Chinese smartphone maker, has mustered a new US$1.1 billion war chest in its latest round of fund-raising, the company's founder and chief executive said this week.

The round valued Xiaomi at US$45 billion, founder Lei Jun said in a post on his