Update: Financial Times reports that Xiaomi has lined up $1.5 billion in venture funding as part of a valuation that could exceed $40 billion. Russian internet company DST, which also backed companies like Alibaba, Facebook and Airbnb, is one of the investors currently in negotiations with the Chinese handset maker.
Bloomberg on Tuesday, citing sources familiar with the matter, reports that Chinese smartphone maker Xiaomi is in talks to hold a funding round that could value the smartphone maker at between $40 billion to $50 billion. The news arrives just days after it was reported that Xiaomi overtook LG to become the world’s third-largest smartphone maker. Expand Expanding Close
Chinese Android manufacturer Xiaomi may be trying to compete at the high end of Android devices with it’s iPhone-inspired Mi 3 handset and unsubtley-named Mi Pad, but it isn’t neglecting the low-end of the market. Its Redmi 1S just launched in India and, according to a tweet by former Google exec and now Xiaomi Global VP, sold 40,000 units in 4.2 seconds … Expand Expanding Close
Former Android head and Xiaomi VP Hugo Barra has apologized to owners of its smartphones for “any concern caused” by collecting contact data from address books without permission.
A recent […] report by F-Secure raised privacy concerns by stating that Xiaomi devices are sending phone numbers to Xiaomi’s servers. These concerns refer to the MIUI Cloud Messaging service. As we believe it is our top priority to protect user data and privacy, we have decided to make MIUI Cloud Messaging an opt-in service and no longer automatically activate users […]
We apologize for any concern caused to our users and Mi fans. We would also like to thank the media and users who have been sending us feedback and suggestions, allowing us to improve and provide better Internet services …
Samsung’s troubles are far from over, says credit rating Fitch, predicting that the company’s share of the smartphone market will fall from 31 percent last year to 25 percent next year, reports the WSJ.
Nitin Soni, a Singapore-based director of corporate ratings at Fitch, warned that Samsung had lost its edge with consumers as Chinese companies like Xiaomi, Lenovo and Huawei make cheaper and cheaper products that meet most consumers’ needs.
He added that innovations like wearable devices and curved screens – two of Samsung’s recent tricks – are “unlikely to change the trend” …
Rapidly-growing Chinese manufacturer Xiaomi announced its first wearable today, the Mi Band. While it’s a fitness band rather than a smartwatch, it does have one smartwatch-style feature: it can be used instead of a passcode to unlock Mi phones.
The waterproof Mi Band measures activity levels and sleep patterns, has a smart sleep-cycle alarm and claims to have a 30-day battery-life. Amazingly, it will be going on sale in China and Singapore for the equivalent of just $13 … Expand Expanding Close
Reuters reports that almost 200 Samsung managers have “voluntarily” handed back a quarter of their first-half bonuses in anticipation of what is expected to be the company’s worst quarterly profit for two years.
The decision to return some of the bonus was partly a gesture to demonstrate that managers are taking responsibility for the earnings decline, and partly a way to show that management will work harder, the source told Reuters on Friday, declining to be identified due to the sensitivity of the matter.
Samsung, HTC and Motorola are likely to be looking a little nervously over their shoulders as Chinese smartphone manufacturer Xiaomi more than doubled its year-on-year sales. The company announced (via TNW) that it sold 26.1M phones in the first half of this year, more than it sold in the whole of 2013.
These are impressive sales for a company which sold its first smartphone just three years ago, and whose sales were initially limited to China. Its growth has been fuelled by expansion into Singapore, Malaysia, India and the Philipines, with the company now eyeing up Latin America as its next market … Expand Expanding Close
A new video out of Bloomberg details just exactly how a once unknown Chinese phone company has able to leapfrog the household names in technology and become the sixth largest mobile handset company in the world, and the third largest in China. Xiaomi was founded back in 2010 and went the total opposite direction in terms of strategy from Apple and Samsung. Making Android powered devices, Xiaomi has focused devices with high build quality and excellent performance.
Chinese smartphone maker Xiaomi, the company which specialises in imitating Apple’s marketing for its Android handsets, has launched its first tablet, reports Reuters – and it’s an iPad mini clone. The company has even named it the Mi Pad …
Hugo Barra, Google’s former VP of Android product development, says his move to Xiaomi was planned long before it emerged that Sergey Brin was romantically involved with his former girlfriend.
In an interview with AllThingsD, Barra said that the opportunity to play a key role in the global expansion of the company dubbed ‘the Apple of China’ was one he could not resist.
“To me, right away, it was a once-in-a-lifetime opportunity, truly a dream job, this idea of building a global company which could be as significant as Google from the ground up,” said Barra. “It was just something that I will never come across, with a team whom I know, with a company that has DNA similar to my own and, on top of that, to live in Asia for at least some period of time” … Expand Expanding Close
According to a new report from AllThingsD, citing “sources in position to know”, one of Google’s top Android executives is leaving the company. The report states that Hugo Barra, who was the vice president of product management for Android, will soon be departing the company to join Chinese phone maker Xiaomi. Xiaomi produces its own high-end Android-based devices, though with a heavy custom skin on top. Barra originally joined Google in 2008 as a group product manager, having previously worked for speech firm Nuance, and has moved up the totem pole since then.
Xiaomi welcomes Hugo Barra and looks forward to him being a part of our ever-growing and talented team!
AllThingsD also says that Barra tendered his resignation only recently, but that it was before he ended a romantic relationship with another Google employe. It is now believed that Sergey Brin, who recently split from his wife, is currently involved with Barra’s ex. Sticky.
Update: Barra’s G+ statement:
A new Android chapter
After nearly 5½ years at Google and almost 3 years as a member of the Android team — the most amazing group of people I’ve ever worked with in my life — I have decided to start a new career chapter.
In a few weeks, I’ll be joining the Xiaomi team in China to help them expand their incredible product portfolio and business globally — as Vice President, Xiaomi Global. I’m really looking forward to this new challenge, and am particularly excited about the opportunity to continue to help drive the Android ecosystem.
It has been an amazing ride and true honor to be part of the Android team at Google, and I especially want to thank +Andy Rubin , +Hiroshi Lockheimer , +Sundar Pichai and +Vic Gundotra for their phenomenal support and mentorship over the years.
