Last week according to the latest IDC numbers, Xiaomi is now the fourth largest smartphone company in the world. Now, the Chinese company is looking at raising funds, which could value the company at more than $40 billion, Forbes reports. This valuation would make Xiaomi the world s most valuable private tech companies. Also Read - Xiaomi 12T Pro with 200MP cameras could launch in SeptemberAlso Read - Xiaomi showcases its first humanoid robot, CyberOne: Watch video
The publication cites sources claiming that the Chinese company is looking at raising enough money to effectively quadruple the company s value. It was valued at $10 billion after a round of funding in August of last year. As mentioned above, such a valuation would make Xiaomi the most valuable private tech company in the world. To put this value into perspective, companies like Sony and Lenovo have a market value of $19.5 billion and $15.6 billion respectively. Also Read - Govt is not banning phones by Chinese companies under Rs 12,000: Report
Xiaomi just had one of its best ever quarters shipping 17.3 million handsets, which is a whopping 211.3 percent growth year-over-year. It is not only the top smartphone company in its home country controlling a 30.3 percent market share, it has also managed to break into the list of top-five smartphone companies of the world. It was briefly at number three just behind Samsung and Apple, before Lenovo completed its acquisition of Motorola thereby propelling it ahead of Xiaomi. The achievement is quite impressive when you consider that Xiaomi is a relatively new company and only operates in a few markets including China and India.