Xiaomi Is More Like Facebook Than Apple

That’s the mantra that you’ll surely hear most as Xiaomi Corp. tries to convince investors that a hardware company with razor-thin margins is worth $100 billion. “We pioneered an amazing, innovative business model underpinned by courage and trust,” founder Lei Jun said in an open letter accompanying its offer document Thursday in which he reiterated a pledge to cap hardware margins in favor of making money via services.

Link: Xiaomi Is More Like Facebook Than Apple
via finance.yahoo.com

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