xiaomi-20milXiaoMi of China does seem to be on the rise, as we have heard that their XiaoMi Mi3 smartphone happens to be the first smartphone that runs on the Tegra 4 chipset from NVIDIA, while XiaoMi was also the first to roll out a 47” 3D Smart TV that will not cost more than $500, clearly placing it under impulse purchase territory. Apart from that, we also have reported on ex-Googler Hugo Barra joining up with XiaoMi, which would certainly add to the company’s credibility in the eyes of the international market. Even more good news is, XiaoMi has just completed their fourth financing round at a whopping $10 billion valuation, all the while doubling their revenues to $2.1 billion in the first half of 2013 alone.

XiaoMi President Lin Bin continued the “feel good” news by announcing that this is the first time the company has turned a profit, and has increased this year’s smartphone shipment to touch a whopping 20 million units. I am sure that a possible IPO is not too far off in the horizon, although when approached about it, Lin Bin has no plans for it – at least within the next 5 years. Just how far do you think XiaoMi’s star will rise eventually?

Filed in Cellphones. Read more about Xiaomi.

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