Having raised $1.1 billion in its latest round of fund-raising, Xiaomi has been valued at $46 billion, making the Chinese company the most valuable technology startup around.
A regulatory document filed with the Shenzhen Stock Exchange shows that Xiaomi only made $56 million profit last year, a fraction of the amount reported last month.
According to sources close to Samsung, the company has dismissed dozens of executives from its mobile division, although top executives retain their posts.
Research conducted by Strategy& places Samsung as the second largest R&D spender in the world, and the largest in the consumer electronics industry.
After rumors of a reshuffle, Samsung’s top executives will retain their existing roles, including J.K. Shin, the head of the company’s mobile division.
Samsung has announced that it intends to buyback $2 billion worth of shares in order to stabilise the company’s share price and boost value for investors.
In an attempt to return its mobile division to a profit, Sony will cut its smartphone product line-up and impose cost cutting measures next year.
Samsung’s Mobile Division could be facing workforce cuts of 30% and a winding-down of various services, including ChatOn messenger and media hub.
We take a look at the data and figures for the third quarter of 2014 to analyse the biggest smartphone market trends this year.
According to an email sent to employees, Intel will be combining its current mobile and PC divisions into a single “Client Computing Group” early next year.