Xiaomi said to be valued at $40-50b in talks for new funding round

Smartphone maker Xiaomi is discussing a financing round valuing the company at US$40-50 billion, Bloomberg reported, citing unnamed sources. The discussions are at an early stage and nothing is finalized, said the sources, who asked not to be identified because the matter is private. The world’s third-biggest smartphone maker had a financing round in August 2013 that valued it at US$10 billion. The latest valuation surpasses more established Asian electronics makers including Sony (SNE.NYSE), which has a market capitalization of about US$21 billion, as well as Lenovo’s (992.HKG) US$16 billion.