BEIJING: China’s top smartphone seller Xiaomi Corp is raising more than US$1 billion in a fresh round of funding, a move which would raise its valuation above US$45 billion, a report said on Sunday (Dec 21). Dow Jones Newswires, citing a person familiar with the issue, said the latest round of funding could close as soon as Monday. It was being led by tech investment fund All-Stars Investment and also involved were current shareholders Russian investment firm DST Global and Singapore sovereign-wealth fund GIC, the report said.
I can see why Lei Jun doesn’t want to be called the Steve Jobs of China. If you look at his history, he’s more like a quasi-Bill Gates with a hint of Jeff Bezos, with Marc Andreesen tendencies, and only a soupçon of Steve Jobs. Given what we know of Lei Jun’s history and numbers, you would be hard pressed to make a deeper comparison of Lei Jun and Steve Jobs that goes beyond black shirts, blue jeans, and smartphone icons.
Chinese smartphone maker Xiaomi achieved operating revenue of about CNY26.583 billion in 2013 and its net profit was about CNY347 million. These accounting details are the first concrete look into the private company’s financial health. The data was released to the Shenzhen Stock Exchange because of an investment deal between Xiaomi and Midea. The two parties recently reached an agreement for Xiaomi to invest CNY1.266 billion into Midea Group.
Last week, Chinese phone maker Xiaomi was hit with a sales ban in India. Today, that has been partially lifted by the Delhi High Court, reports The Hindu. Today’s ruling allows Xiaomi to sell only Qualcomm-powered smartphones in India, and only until January 8, 2015. This allows Xiaomi to sell three of the four models it had launched in India – the Redmi Note 4G, the Mi3, and the Redmi 1S. The MediaTek-powered Redmi Note remains fully banned.
NEW DELHI: Delhi High Court on Tuesday granted temporary relief to Chinese smartphone maker Xiaomi, allowing it to sell its handsets in the country provided they use Qualcomm’s chipsets. The world’s third-largest smart phone maker will resume flash sales in India from December 23, the company said. The order by a division bench set aside a total ban on Xiaomi devices sale in the country issued by a single judge of the same court last week.
TAIPEI — Taiwan’s Asustek Inc. (華碩) is gearing up to grab a larger market share in India after its major Chinese rival in that country, Xiaomi Inc., was barred from selling its handsets there by an Indian court last week for infringing upon technology patented by Ericsson, according to a report by the Commercial Times Sunday. With Xiaomi stopped from selling in India, the report said, Asustek is expected to surpass Xiaomi in terms of units sold in the coming months in the Indian market.
Xiaomi, the disruptive Chinese phone maker that sold 18.7 million phones in 2013, has revealed inadvertently how much profit and revenue it pulled in last year. Xiaomi generated RMB 347.48 million (US$56.15 million) in profit in 2013 from RMB 26.58 billion (US$4.3 billion) in revenue. The numbers emerged from documents filed by Xiaomi in relation to its US$200 million stake in Midea, which happened over the weekend. The figures were spotted by Reuters.
Just being a Chinese-made smartphone puts Xiaomi at a branding and security deficit on the global stage, but now a legal decision in India has further stymied the company’s growth plans in the world’s second-largest nation. Xiaomi published a note on its official Indian website, stating that the company will suspend sales of Xiaomi smartphones in this country. The Delhi High Court ruled that Xiaomi infringed a patent from Ericsson and it issued an order to suspend the sales and import of Xiaomi smartphones in India.
MUMBAI/BEIJING: The court order that banned Chinese mobile maker Xiaomi from selling its phones in India has halted its breakneck expansion into the world’s fastest growing major smartphone market and could be just the start of a string of patent challenges. Xiaomi Technology only started selling in India in July and quickly became the country’s fastest growing smartphone brand; with minimal marketing, it is already outselling even low-cost smartphones running Google’s Android One.
The Delhi High Court in India has reportedly granted an ex parte injunction order against Chinese smartphone maker Xiaomi for allegedly infringing on Ericsson’s Standard Essential Patents (SEPs), according to a report published on NDTV’s website. The NDTV report comes from SpicyIP which said that the injunction stops the Chinese manufacturer from “selling, advertising, manufacturing or importing devices” that infringe upon Ericsson’s patents.
Chinese electronics company Xiaomi has a rather poor reputation when it comes to copying other companies. People have called comparisons to Apple’s phones, tablets, set-top boxes and even Apple’s stores and keynotes. It looks like Apple isn’t the only company Xiaomi is willing to take notes from as the Mi Air Purifier is the latest product to be labeled a “copy”, this time by Japan’s Balmuda air purifier.
DELHI: Chinese smartphone maker Xiaomi says it will fully comply with the Delhi high Court order asking it to stop sales of its smatphones in the country, Manu Jain, head of the company’s India operations, told ET. Xiaomi, the third largest smartphone maker in the world, had earlier suspended the upcoming flash sale of its Red Mi 1S and Red Mi Note smartphones.
HONG KONG: A patent dispute has forced a retreat for China’s top smartphone brand. The stakes are high because Indian demand for low-end phones could be huge. Xiaomi can probably pay up and start selling again, but patent fees will squeeze margins, and in turn the company’s valuation. Chinese smartphone maker Xiaomi was ordered by Delhi High Court to stop selling its smartphones in India on Dec. 11.
Xiaomi’s cheap phablets, the Redmi Note and Redmi Note 4G, are sweeping across South and Southeast Asia. The 4G version launched in China in August, followed by Singapore and India in November, selling out quickly in all of its inaugural flash sales. The Note series capitalizes on Asia’s love of a) low prices and b) big screens. So how does it stack up against big screen rivals in the same price range?
NEW DELHI: The Delhi High Court in an interim order has restrained Xiaomi as well as online e-commerce site Flipkart from selling in India handsets of the Chinese mobile maker that run on the technology patented by Ericsson. The court has also restrained Xiaomi or its agents from making, assembling, importing or offering for sale its devices which are infringing the mobile phone technology patented by Ericsson.
Xiaomi is rolling out the first beta test for the Yeelight smart lightbulb, part of a range of four smart home items. The new smart home collection will all work with Xiaomi’s smart home router. The company will be choosing 50 beta testers at random – who fit the requirements – on Weibo. Xiaomi has been rolling out small beta testing raffles over the past year, in order to gain more information on product flaws and excite the fans with new products.
China’s OnePlus launched in India today, pricing the 64GB version of the OnePlus One phone at INR 21,999, which is US$355. It runs CyanogenMod’s version of Android 4.4. It’s available exclusively on Amazon India. OnePlus’ entry into India comes five months after Xiaomi first ventured into the country. The launch of the OnePlus One looked in peril late last week when it emerged – much to the apparent surprise of OnePlus itself – that CyanogenMod has an exclusive partnership in India with homegrown phone maker Micromax.
BEIJING — 21Vianet Group, Inc. (Nasdaq:VNET) (“21Vianet” or the “Company”), a leading carrier-neutral internet data center services provider in China, announced today that affiliates of Kingsoft Corporation Limited (HK:3888) (“Kingsoft”), a leading internet based software developer, distributor and service provider, Xiaomi Corporation (“Xiaomi”), a leading designer, manufacturer and marketer of mobile devices and other electronic equipment and a provider of internet services, and Temasek, a Singapore based investment company, have entered into definitive share purchase agreements with 21Vianet. All shares to be issued in these transactions are newly issued shares of 21Vianet.
Xiaomi already shipped over one million Mi Bands since the device went on sale on August 18 to November 28, according to the fitness tracker’s official Weibo account. At its peak, it sold 103,000 in a single day. To put that into perspective, only about 3.3 million fitness bands and activity trackers were sold between April 2013 and March 2014 in the US, according to the NPD group (h/t Recode).
Chinese smartphone maker company Xiaomi, Inc. recently announced plans to start manufacturing smartphones in India and Brazil in an effort to expand its market reach. Xiaomi, the third largest smartphone developer in the world, said it plans to produce smartphones in India in the next one to two years and in Brazil sooner than that.