Beijing-based Lenovo said the restructuring would yield savings of about $1.35 billion on an annual basis. But the difficulty in selling handsets, combined with a continuously shrinking global mar...
Xiaomi Inc on Thursday said it sold 34.7 million smartphones in the first six months of 2015.
Xiaomi's investment partners include Shunwei VC, Temasek and Kingsoft, the Nomura analysts said.
Baidu is the latest big-name investor joining the likes of Goldman Sachs, Google to place a bet on the fast-growing transportation company now valued at a hefty $40 bn.
Sources close to Xiaomi say its leadership has privately acknowledged for years its vulnerability to patent entanglements.
The size of Baidu's investment - and its valuation of Uber - are unknown.
Intel, in a statement on Thursday, said it would bring its most advanced chip-testing technology to China as part of the upgrade.
Lenovo said its revenue climbed up by 7 per cent to US $10.5 billion, but sales from its mobile device division plunged 6 per cent to US $1.4 billion.
Xiaomi's burgeoning TV unit includes its Xiaomi TV as well as a set-top box, which both use its software and content.
Strategy Analytics said Xiaomi accounted for 6 per cent of all 320 million smartphones shipped during the July-September quarter.
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