Xiaomi IPO, raises 54 Billion Dollars Market Value
Xiaomi the company that manufactures more phones in year then many of other companies combined, is now worth $54 Billion.
Xiamoi earlier this year targeted to get market value, of 50 Billion, and just recently launched their IPO at $54 Billion. To raise 4.7 Billion Dollars for themselves.
They have decided to split these earnings for development of hardware and software. They have also decided to tap foreign markets further. And the most important being tapping their own country where they have comparitively less market share in recent times.
They also want to diversify their product ranges in other countries. They plan to launch laptops and phones in countries like India. They have a huge no. of phones, that would probably require lot of customer support to maintain, and they would work to improve customer experience.
Xiaomi has launched so many phones, that probably their employees would not remember names all products, but it’s them.
Xiaomi has been highly profitable and has a good market reaponse among people. It presently targets lower middle range of products and has dozens of smartphones in it, their leader being Xiaomi Redmi Note 5 and Note 5 pro
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