Xiaomi leans on India sales after filing for mega IPO
Xiaomi Corp., the world’s No. 4 phone maker, has filed for what’s expected to be the biggest initial public offering globally since 2014 with a valuation as high as $100 billion, according to people familiar with the matter. After a challenging 2016, the Chinese company scaled back operations elsewhere to focus on markets including India, targeting that country’s first-time phone buyers. By the end of last year, Xiaomi had topped Samsung Electronics Co. to lead sales charts in India.