Xiaomi, Chinese biggest smartphone market, which is wiping of Apple Inc. (NASDAQ:AAPL) from the local markets is now going get a milestone in the venture capital, Time of India reported. The company is in talks with investors and other sources to raise around $1.5 billion. This would be the largest raise ever outside of IPO in China by any company. Xiaomi is sweeping off every other smartphone market in the emerging markets. It offers great phones in less prices. Apple Inc. (NASDAQ:AAPL) has been already outsold by Xiaomi in China. The Chinese giant is also making strong endeavors in the US markets.
The source quoted financial news website Jiemian of the Shanghai United Media Group, which has also claimed that Xiaomi shipped 18 million units in the third quarter. This is a sales growth of 18% as compared to previous quarter. The company shipped 44 million units in nine months. Google’s Hugo Barra joined Xiaomi last year and after that, the company got multifarious milestones in the software aspect. The peculiar charm of Xiaomi phones is its aesthetics of Apple Inc. (NASDAQ:AAPL)’s iOS and power of Android. Xiaomi has two phones in the best selling smartphones of 2014 list.
Xiaomi is third biggest smartphone market after Apple Inc. (NASDAQ:AAPL) and Samsung. The company will use the raised capital to invest in its TV content business. Xiaomi has hired former Sina.com editor for this endeavor. After Alibaba, Chinese experts rate Xiaomi as the IT legend. The source also quoted South China Morning Post, which has claimed that Xiaomi is currently valued at $50 billion.
Apple Inc. (NASDAQ:AAPL) can face tough competition from the rising Chinese phone maket in the future. In first quarter of 2014, Xiaomi outsold Apple. The Chinese phone maker sold 10.4 million smartphones whereas Apple Inc. (NASDAQ:AAPL)’s sales were of 9 million units.
Carl Icahn‘s Icahn Capital hold around 52.8 million shares of Apple Inc. (NASDAQ:AAPL).
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