Chinese smartphone brand Xiaomi could go public in 2025, says its founder and CEO as the company looks to hold off on an IPO and instead focus on establishing physical retail stores and new products.
Lei Jun says that from the company’s inception in 2010, he knew it would take at least 15 years for it to be ready to go public. “We believe Xiaomi needs to be trusted by consumers from the bottom of their heart.”
Worth US$45 billion and often dubbed “China’s Apple”, Xiaomi is known for its low-price high-spec smartphones. However, its global shipments last year grew just 22.8 per cent year-over-year, compared to near triple-digit percentage growth in previous years.
And while the handset maker has also dropped out of the list of the top five biggest vendors in China, it has recently launched in Brazil and India.
Xiaomi built its early success on an online-only sales model in Mainland China, using flash sales and social media for promotion. But it now has physical stores in Hong Kong, Beijing and some smaller mainland cities. It has added products such as internet-connected air purifiers and even TVs to its portfolio, and relies on revenue from its app services.
Lei Jun says the company wants to open more stores in China and it and is looking at India for expansion.

“Our plan is five to six stores for each city in major shopping malls,” says Jun.