Xiaomi’s smartwatches and bands are manufactured by its famous partner called Huami. On Friday, this company filedĀ a billĀ with the US Securities and Exchange Commission (SEC) to raise up toĀ $150 million in an initial public offering (IPO). The company has said that it will apply for its ads to be listed on Nasdaq Global Market under the symbol “HMI”. Also, the likes ofĀ Credit Suisse, Citi and China Renaissance are joint undertakers to the IPO. As of now, theĀ pricingĀ termsĀ has not be made public, however, the company said thatĀ the proposed IPO priceĀ is anĀ estimation entirely for estimatingĀ SEC registration fee.
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A majority of Xiaomi’s branded smart bands, watches, scales, and other wearables designed and manufactured in conjunction with Huami. XiaomiĀ is also the only customer and distributor of its wearables, and it ownsĀ 19.3% of Huami. ItĀ booked $295 million in sales for the 12 months ended September 30, 2017. Huami who doesn’t directly handle the production of these wearables (contracted out to other manufacturers) also has its products which are not producedĀ under the āAmazfitā brand.
