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Transcript

00:00:00
>>
MUSIC]
00:00:02
Chinese smartphone maker Xaomi drummed up hype for a 10 billion dollar IPO this week with a rock concert launched straight out of Silicon Valley.>>
FOREIGN]
> It's my first time participating in this new product lauching event.
00:00:20
And one more thing, CEO, Lei Jun also unveiled a VR headset developed alongside Oculus, that's the Occulus owned by Facebook.>>
00:00:42
Beyond the tech geek hype, Xaomi's also go to impress investors. It's sky high IPO across the border in Hong Kong could come as soon as this month. But as Reuters explains from the show with that VR headset, Facebook, which is blocked in China, may find its own win.
00:00:58
>> The speculation is that this is a way Facebook is trying to enter the China market. And it's a market that Facebook for many years has been shut out of. And it's a market that has been dominated predominantly by Chinese internet giants.>> The other big news for Xaomi is it's planning on launching an IPO in Hong Kong later in July.
00:01:18
And the speculation this might be the largest listing globally since Ali Baba listed in 2014.>> Xaomi is famous for its slick brand of mid priced phones. But, it's also gained a loyal following in China and beyond for a range of products. Smart air purifiers, electric scooters, even underpants.
00:01:36
However, Xiaomi's target IPO has drawn scrutiny of the companies performance. There are concerns over the Chinese smartphone market stalling out. And questions of whether the company can lock in customers beyond young die hards. Some of them traveled for hours to see the event.>>
00:01:56
I was very excited. I'm looking forward to the launching of MI 8, if I have money I'll definitely buy one and change my smartphone immediately.>> But Xaomi will have to attract many more to keep up the momentum for its IPO push.