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
Add BT as a preferred sourcePublished Thu, Jan 1, 2015 · 09:50 PM
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 verified account on Weibo, China's Twitter-like messaging service. At that level, Xiaomi, which last summer claimed the No 1 position in China's smartphone market - the world's largest - is now worth much more than household technology company names like Sony or Nokia, and nearly as much as Yahoo's current market value.
