Known unofficially as the Apple of China, Xiaomi have recently been valued at $46 billion. This is after they raised an impressive $1.1 billion in new capital, making the Chinese smartphone maker worth more in the eyes of investors.
Xiaomi is know known as the most valuable venture-backed startup in the world, and the valuation is not only testament to the company’s growth, it even managed to turn a pretty decent profit of $56 million last year. Xiaomi are really going up in the world, or at least in Asia where the company are most prominent. I just want them to hurry up and sell the smartphone outside of Asia!
Xiaomi’s smartphones have taken many, many leafs out of Apple’s book, almost mimicking the Cupertino company at times, but instead offering more power under the hood for half the price, and though their smartphone’s don’t offer Google services, there’s enough dedicated apps to keep customers loyal, as well as online-only flash sales which have created hype and saved money on retail stores.
Though it’s great news for Xiaomi, I’m fairly certain a western release is impossible due to the many similarities between Apple’s devices and Xiaomi’s, chances are if the devices reached anywhere outside of the limited Asian releases, Apple will be the first to put a spanner in their works.