Xiaomi’s valuation plunges as shipments dive

first_img Xiaomi off the hook in the US Xiaomi smartphone surge bears fruits Previous ArticleLG to make chips at Intel factoriesNext ArticleCisco lines up massive job cuts within weeks Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he… Read more Joseph Waring Author Devices Relatedcenter_img Chinese vendor Xiaomi suffered a dismal quarter, with total shipments falling sharply, its market share down and its valuation plunging.The once fast-rising smartphone maker was valued at $46 billion a year ago and was thought of as the world’s most valuable startup. After Q2 smartphone rankings were released, Richard Windsor wrote in his Radio Free Mobile blog that the company’s current revenue level values it at just $3.6 billion. He expects the vendor’s revenue to fall 10-20 per cent this year.Xiaomi’s smartphone market share in China fell to 9.5 per cent in Q2 from 16.1 per cent a year ago, as shipments contracted 38 per cent to 10.5 million units, according to IDC. Local rivals Huawei, Oppo and Vivo all posted double-digit growth.Counterpoint Research was more kind; it had Xiaomi’s shipments in China down only 26 per cent to 12.6 million units. It put its global shipments as falling 24 per cent to 14.5 million units.Xiaomi itself does not release official financial information.Despite a strong overseas push in India and a few other markets, non-China shipments accounted for just 13 per cent of total shipments.While TrendForce in March forecast Chinese branded vendors to expand total shipments 16 per cent this year, Xiaomi’s target was 12.5 per cent. But after a flat Q1 and the sharp decline last quarter, there are no signs the six-year-old firm will return to high growth anytime soon.Windsor forecasts Xiaomi will ship 59.7 million units this year, which will give it revenue of $14.9 billion based on an average selling price of $250. “I find myself struggling to value the company anywhere near $5 billion,” he said. smartphoneXiaomi Smartphone shipments to ride 5G wave HomeDevicesNews Xiaomi’s valuation plunges as shipments dive Tags AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 17 AUG 2016 last_img read more

Mullaney, the unknown hero

first_imgDALLAS – The last time receiver Richard Mullaney played in AT&T Stadium, he made his debut with the Crimson Tide in the season opener against Wisconsin.Alabama's Richard Mullaney during a press conference for the Cotton Bowl on Sunday December 27, 2015 in Dallas, Tx.Alabama’s Richard Mullaney during a press conference for the Cotton Bowl on Sunday December 27, 2015 in Dallas, Tx.He caught two passes for 38 yards to help Alabama to a 35-17 win, and went to Buffalo Wild Wings with teammates Ryan Kelly and Jacob Parker to celebrate.“There’s this couple that came up and was like, ‘Hey, can we get a picture with all you guys?’ We’re all like, ‘Oh, yeah, yeah, yeah,’” Mullaney said. “I’m about to stand up. And this lady hands me the phone and was like, “Hey, can you take the picture of us?’”Alabama fans may not have known who Mullaney was then, but they sure know him now. The 6-foot-3, 208-pound target has snared a pass in every game, and is tied for the team lead with five touchdown catches.It’s all seemed to work out, but he didn’t know what to expect when he transferred to Alabama.The cool kid from California was an outsider just a few months ago. He transferred from Oregon State to one of the most prestigious programs in the country as a fifth-year senior.“I had no idea what I was getting into when I was transferring. Walking into the locker room, I was a little intimidated,” Mullaney said. “Obviously it was Alabama. Top-tier guys, five-star, Under Armour All-America guys, and I wasn’t that. I knew I needed to work really hard.”The former three-star wide receiver flew into Tuscaloosa under the radar. He graduated on a Saturday, visited Alabama on a Monday committed shortly after.He didn’t know what to expect, except for one thing.“I knew that it’s Alabama, they’re always playing in big games,” Mullaney said. “I wanted to win a national championship. That’s why I came here. Now we have that chance.”Now Mullaney has his chance to play in one of the biggest games of the season as No. 2 Alabama prepares for the College Football Playoff semifinal against No. 3 Michigan State at AT&T Stadium on Thursday.His reliability can be credited to his relationship with quarterback Jake Coker, a fellow transfer. Coker’s assistance helped Mullaney balance being one of the older players — yet one of the least experienced — and allowed the early-season success.“It was very smooth for me coming here, just the summer workouts and everything. Jake kind of helped me out a lot,” Mullaney said. “I roomed with him during fall camp. And I think that’s just when our relationship kind of got started. And just all the reps that we’ve been taking during summer, fall camp, you know, leading up into the season. I think he just got comfortable with me, and I got comfortable with him, and it’s just been good.”Mullaney didn’t know what to expect when he first transferred to Alabama, but it couldn’t have gone any better. He wanted to win play in big games, and he wanted to win a championship. Now the SEC champion is preparing for the biggest game of the season where he started it all off this year.“I didn’t really know what my expectations were coming in,” Mullaney said. “I obviously knew I was going to come in and compete. In my head I knew I was good enough. I know a lot of people thought I was crazy for coming here. I just used it as motivation, and here I am today.”last_img read more