Xiaomi Leans on India After Filing World's Next Mega IPO: Chart

(Bloomberg) -- 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.

To contact Bloomberg News staff for this story: Gao Yuan in Beijing at ygao199@bloomberg.net.

To contact the editors responsible for this story: Robert Fenner at rfenner@bloomberg.net, Sam Mamudi at smamudi@bloomberg.net, Matt Turner, Edwin Chan

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With assistance from Gao Yuan