Chinese Xiaomi Overhauls Blackberry In Valuation



Upcoming Chinese Smartphone manufacturer, Xiaomi declares that it  has held even more investments which has added its value to about $10 billion , a figure that is higher than the suffering BlackBerry’s market capitalization.

Lei Jun, CEO Xiaomi confirmed the fresh round of investment funding via a short note on his Weibo micro-blogging account.

He, however, did not reveal the names of the investors who injected the amount of capital in the company.

The last time the company was known to have money raised from investors was in June last year, which they were able to raise $216 million, and valued the company at $4 billion.

Aiming to make a sale of 15 million handsets this year, the speedily growing company is now the fifth largest Smartphone vendor in China, ahead of Apple.

The company only started selling Smartphones in the mid 2011, and has recently secured its first handset sales agreement with China Mobile.