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Xiaomi Tiger More Like Pussycat

Xiaomi Tiger More Like Pussycat

The recent fall in smartphone sales for China’s Xiaomi may not have a major impact on the company because most of its revenue is driven from smart-home devices as well as revenue from its software eco-system, a senior executive said.

Xiaomi was valued at US$46 billion in its last fund-raising in 2014 – making it briefly the world’s most valuable start-up at a time when it was China’s best-selling smartphone maker and looked set to make a splash worldwide.

But last year it missed its global smartphone targets by 12 percent, while its Q3 China smartphone sales have tumbled 45 percent, according to research firm IDC – raising doubts over the valuation.

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