Chinese smartphone company Xiaomi valued at $10bn
Firm compares with market value for Lenovo, biggest maker of personal computers globally
Lei Jun, founder and chief executive of Xiaomi, at a launch ceremony of Xiaomi Phone 2 in Beijing. Photograph: Reuters
Xiaomi said it had a valuation of $4 billion in June 2012. Since then it has announced plans to more than double handset sales to 15 million this year, struck a deal to supply devices to China Mobile and risen to sixth in the nation’s smartphone market, one place ahead of Apple.
A $10 billion valuation on Xiaomi compares with a market value of $10 billion for Lenovo, the world’s biggest maker of personal computers, and about $20 billion for Sony.