Research

Xiaomi seeks bank pitches for 2018 IPO

Xiaomi seeks bank pitches for 2018 IPO

The smartphone vendor would be the biggest technology company to go public since Alibaba Group raised $25 billion in a US IPO in 2014, which valued the company at $231.4 billion.

The IPO has been slated for Hong Kong in the second half of next year, with the company ranking only fifth in Chinese phone shipments in the first quarter, according to research firm IDC.

"It is huge", said another source, adding that a valuation of $100 billion would "not be a insane number".

Xiaomi was once crowned as the most valuable startup, in fact, the company was hailed as a tech unicorn once it breached the $1 Billion mark. Bloomberg quoted Kaylene Hong, a Xiaomi spokeswoman, as saying that the company did not comment on IPO matters. But in the first quarter of a year ago, fierce competition from Oppo, Vivo, and Apple saw it fall to fifth place in Chinese phone shipments, according to analytics firm IDC.

More news: The AbbVie (ABBV) Given Daily News Impact Score of 0.28

A report, summarising the smartphone market around the globe, has concluded that Huawei, Xiaomi, Apple, Vivo, and Oppo made up 91 percent of smartphone sales in China.

The report, by Kantar Worldpanel, claimed that other smartphone brands like Meizu, LeEco and Coolpad are having less than one percent market share and are struggling to cope with the competition. The company targets Rs 14,000 crore revenue in 2017, he added.Seeking to allay fears over the security of the Xiaomi phones, Jain said: "We don't collect any user data".

Xiaomi was expected to choose either Hong Kong or the USA as its listing venue, according to the people, who declined to be named as the discussions were confidential.


  • Headed For a Pullback? Share Update on Navigators Grp Inc (NAVG)

    Following the transaction, the chairman now directly owns 2,887,018 shares in the company, valued at approximately $80,605,542.56. Boston Partners acquired a new stake in shares of Cabot Oil & Gas in the third quarter valued at approximately $64,249,000.

    Analyst Research and Recommendations: Frontier Communications Corporation (FTR), Brinker International, Inc. (EAT)

    Frontier Communications Corporation (NASDAQ: FTR ) earnings have risen with a quarterly rate of 11.2% over the last 5 years. Frontier Communications Corporation's insider ownership stands at 3.03 percent, while its insider transaction is 0 percent.
    Offbeat | 'Big as my head': Hawaii woman seeks record for huge avocado

    Offbeat | 'Big as my head': Hawaii woman seeks record for huge avocado

    Wang is waiting to hear back from Guinness to see if she will be the new record holder for heaviest avocado . The current record-holding avocado was found in Venezuela in 2008, and weighed 4 pounds, 13.2 ounces.
  • Democrats grill Prince about Bannon meeting

    Democrats grill Prince about Bannon meeting

    The Washington Post in April reported Prince's meeting in the Seychelles with an unidentified Russian close to Putin. The Post attributed its April story to U.S., European and Arab officials.
    Mohammed Sheikh burnt alive over alleged 'love jihad', video goes viral

    Mohammed Sheikh burnt alive over alleged 'love jihad', video goes viral

    Internet services in the Rajsamand district were suspended to stop circulation of the horrific video , fearing a communal clash. In the video , the culprit kills the man with an agricultural equipment, then pours kerosene on his body and sets it aflame.
    Quality of NZ drinking water 'inadequate'

    Quality of NZ drinking water 'inadequate'

    It's the second stage of an inquiry launched following the August 2016 water contamination in Havelock North, which left 5000 people sick.
  • UnitedHealth Group Incorporated (UNH) resources base utilization up by ROA 6.40%

    Bruderman Asset Management LLC purchased a new stake in UnitedHealth Group during the second quarter valued at about $114,000. Leerink Swann reaffirmed an "outperform" rating on shares of UnitedHealth Group in a research report on Friday, December 1st.
    Syrian government delegation to return to Geneva on Sunday for peace talks

    Syrian government delegation to return to Geneva on Sunday for peace talks

    More than 340,000 people have been killed in Syria since the conflict began with anti-government protests in March 2011.
    London Mayor calls for apology to people of Amritsar for Jallianwala Bagh

    London Mayor calls for apology to people of Amritsar for Jallianwala Bagh

    The tragedy in 1919 on Baisakhi is one we must never forget. "The British Government rightly condemned the events at the time". The memorial was inaugurated in 1961 and serves as a way to remember those who died and were injured in the massacre .
  • Ladbrokes Coral and GVC Holdings in 'detailed' talks about £3.9bn merger

    Ladbrokes Coral and GVC Holdings in 'detailed' talks about £3.9bn merger

    The tie-up would put the newly formed group in a strong position in major markets such as the UK, Italy and Australia, it added. The final price will depend on the outcome of a government review into fixed-odds betting terminals (FOBTs).

    NVIDIA Corporation (NVDA) Increases Dividend to $0.15 Per Share

    Finally, Susquehanna Bancshares Inc restated a "neutral" rating on shares of NVIDIA in a research report on Tuesday, February 7th. The firm owned 4,416,995 shares of the computer hardware maker's stock after selling 1,303,636 shares during the period.

    American Tower Corp (AMT) Stake Increased by Security National Trust Co

    Zacks Investment Research lowered American Tower from a "buy" rating to a "hold" rating in a report on Thursday, November 9th. The stock of American Tower Corporation (NYSE:REIT) has "Overweight" rating given on Wednesday, October 7 by JP Morgan.