(Reuters) – China’s most valuable start-up Xiaomi is financially self-sufficient and has no plans to raise funds, its global vice-president said on Monday.
Xiaomi, the world’s fifth-largest smartphone vendor, also has no plans for an initial public offering, Hugo Barra told Reuters in an interview.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1901304,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,mobile,","session":"C"}']Xiaomi missed its global shipment target by 12 percent, selling 70 million handsets in a year when local rivals such as Lenovo and top player Huawei countered at home with similar Internet-only sales.
(Reporting By Yimou Lee and Elzio Barreto; Editing by Anne Marie Roantree and Muralikumar Anantharaman)
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