Xiaomi’s Bigger Than BlackBerry
According to a Weibo post by Xiaomi founder Lei Jun, verified by a company representative, the smartphone maker’s latest funding round values it at $10 billion.
That’s more than double the $4 billion valuation attributed to Xiaomi last June after it raised $216 million — and nearly twice BlackBerry’s current value. An impressive showing for Xiaomi, which is currently the sixth-biggest smartphone vendor in China. Clearly, its strategy of selling high-spec smartphones at low-spec smartphone prices is paying off quite well.
Earlier this year, Xiaomi co-founder Bin Lin appeared onstage at D: Dive Into Mobile, discussing the company’s sell-at-cost strategy and its focus on services. Below, video of that session.