Xiaomi’s 2017 Profit Tops $1 Billion

Xiaomi is one of the fastest-growing smartphone vendors on the market. The company has covered a lot of ground over the past couple of years. A new report claims that the company is going to blow past its 2017 revenue target. Xiaomi’s net profit for the year is expected to be at least $1 billion.

The company has quickly established itself as a force to be reckoned with in the market by offering devices with robust specifications at very aggressive price points.

Reuters reports that Xiaomi is in talks with bankers about a potential initial public offering next year. It’s slated to be one of the biggest tech IPOs of 2018. Xiaomi expects to top its 2017 revenue target by up to 18 percent.

The company’s 2017 revenue is estimated to be between $17 and $18 billion with a net profit of at least $1 billion. Xiaomi’s profits are estimated to double in 2018 to about $2 billion.

Xiaomi’s profits are expected to grow sharply in 2019 as well, at least that’s what bankers and analysts expect, which is why a $100 billion IPO valuation for Xiaomi is believed by some to be reasonable.

Xiaomi has not commented on any IPO-related news but a spokeswoman for the company did confirm that Xiaomi has crossed its 2017 revenue goal of $15 billion.

The company is yet to confirm if it’s going to go public in 2018. Word on the street is that Xiaomi’s IPO might be the world’s biggest tech float next year.

Adnan Farooqui
Categories: General
Tags: Xiaomi