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China tech

China's Xiaomi seeks up to $1bn with first international bond

Smartphone maker takes advantage of revived market to raise expansion funds

Xiaomi is looking to increase its investment in countries such as Ukraine to keep its market share rising.   © Reuters

HONG KONG -- China's Xiaomi, the world's fourth-largest smartphone maker, is seeking up to $1 billion through its first bond sale on international markets, according to people familiar with its financing plans.

The move comes three weeks after the company surprised analysts by posting growth of 27.1% in October-December sales revenues even as global smartphone sales slumped -- and by expressing confidence that the impact of the coronavirus pandemic would be short-term.

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