February 20, 2014 / 12:35 AM / 4 years ago

SINGAPORE PRESS-Xiaomi to set up global HQ in Singapore - Straits Times

Handset maker Xiaomi, often billed as the “Apple of China” and known for its budget smartphones, will be setting up its international headquarters in Singapore. It will first focus on the South-east Asian region.

The firm plans to hire 10 to 20 staff, depending on how fast it grows its business, Xiaomi co-founder Lin Bin told The Straits Times. The company’s revenue from phone sales hit 31.6 billion yuan ($5.20 billion) last year, up from 12.7 billion yuan in 2012.

NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 6.0764 Chinese yuan) (Compiled by Singapore Newsroom; Editing by Subhranshu Sahu)

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