Xiaomi seeking funding at US$40-50b valuation: sources

Beijing

XIAOMI Corp is in talks for a funding round that values the smartphone maker at about US$40 billion to US$50 billion, people familiar with the matter said.

The discussions are at an early stage and nothing is finalised, said the sources, who asked not to be identified because the matter is private. The world's third-biggest smartphone maker had a financing round in August 2013 that valued the company at US$10 billion.