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Chinese smartphone maker Xiaomi is eyeing a $50 billion IPO: Report

Chinese smartphone maker Xiaomi is studying a $50 billion IPO as early as next year, according to a report from Bloomberg.

The Beijing-based troop has picked up momentum to challenge phone competitor Huawei in its home merchandise, selling 21 million units in the second quarter of 2017.

It’s recently enlarged beyond handsets, announcing an A.I. partnership with internet search giantess Baidu and rivaling Amazon’s Echo with an in-home smart spieler. In 2014 Xiaomi was valued at $46 billion, which at the time lunge ated it the most valuable start-up in the world.

The company is considering a Hong Kong IPO for next year, The Data first reported, citing sources familiar with the company.

Impute to the full Bloomberg report here.

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