Mobile Internet Strategy Fuels Xiaomi's IoT Ambitions

Junko Yoshida, Chief International Correspondent
12/30/2014 07:43 PM EST

As we ring in the New Year and many of us head for the International Consumer Electronics Show in Las Vegas next week, we pause to note the dramatic changes among key players, not to mention the game itself, being played in the global consumer electronics industry.

Xiaomi, a company that won't be present at CES, is scoring heavily.

Earlier this week, China's Xiaomi announced a windfall of $1.1 billion from investors in its latest round of funding. As Reuters reported, this "cements [Xiaomi's] status as one of the world's most valuable private technology companies at a valuation of $45 billion."

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