Xiaomi reporting bigger revenues after years-long stall
Xiaomi is reportedly looking into a stock listing within the next year or so with valuation of at $50 billion. Some bank analysts were worried that it wouldn’t be able to achieve that valuation by the time it wanted to make its initial public offering.
Now, Reuters reports from sources that Xiaomi has improved its core numbers after years of sales decline. Banks expect net income of at least $1 billion for this year on revenues of at least $17 billion. Based on projected expenses, net income is expected to nearly double next year. Analysts now do believe that Xiaomi’s upper valuation of $100 billion seems within reason.
The company itself confirmed that it had met its $15 billion revenue target, but declined comment on an IPO. It was last valued in 2014 at $46 billion.
China’s fourth-largest smartphone producer by volume has tried to get out of stagnancy from two years of mediocre sales by focusing on and marking big records in India. The company has injected more cash into international operations with a global Android One device debuting this year.