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IPO hopeful Xiaomi set to blow past 2017 revenue target: sources

This will mark a comeback from a recent sales slump for smartphone maker; a net profit of US$1b is projected for this year

Published Fri, Dec 22, 2017 · 09:50 PM
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Hong Kong

CHINESE smartphone maker Xiaomi Inc has told bankers it would top its annual revenue target by as much as 18 per cent, sources with knowledge of the matter said, marking a comeback from a sales slump in recent years that triggered a business overhaul.

Xiaomi, which has been hearing bank pitches for what could be the world's biggest tech float next year, will rake in a net profit of at least US$1 billion in 2017, banker projections based on the company's revenue estimate of US$17 billion to US$18 billion show. Profits are estimated to reach about US$2 billion in 2018.

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