Chinese smartphone maker Xiaomi is planning to go public later this year in Hong Kong and is seeking a valuation of about $ 5000 . It is choosing Hong ##mi rather than the US as it believes Hong Kong retail investors are more familiar with Xiaomi products and its founder , Lei Jun , has been meeting investment bankers since last year . After falling sales in 2016 , sales at Xiaomi declined in 2017 , primarily due to the company opening offline retail stores and expanding overseas , particularly into India . Xiaomi 's annual revenues were $ 15bn to the end of October .
Chinese smartphone maker Xiaomi is planning to go public later this year in Hong Kong and is seeking a valuation of about $200bn. It is choosing Hong Kong rather than the US as it believes Hong Kong retail investors are more familiar with Xiaomi products and its founder, Lei Jun, has been meeting investment bankers since last November. After falling sales in 2016, growth at Xiaomi revived in 2017, primarily due to the company opening offline retail stores and expanding overseas, particularly into India. Xiaomi's annual revenues were $15bn to the end of October.