>> It could be the world largest technology float next year. Chinese smartphone maker, Xiaomi, plans an initial public offering in 2018, and is asking banks to pitch for it next week, sources told Reuters. Xiaomi is known for its budget phones, but the company, itself, looks to be high value.
One source saying a valuation of $100 billion, quote, would not be a crazy number. It has overtaken Apple to become China's fourth largest smartphone vendor by sales. Spurred partly by focusing on walk in stores rather than online sales. It launched, or relaunched, this year in dozens of countries, including Vietnam, Russian, and the United Arab Emirates.
And it has extended it's reach to Europe, launching in Spain, in November. Xiaomi expects to list in either Hong Kong or the United States.