Ratan Tata Invests In Chinese Smartphone Maker Xiaomi | TechTree.com

Ratan Tata Invests In Chinese Smartphone Maker Xiaomi

This should help the handset manufacturer solidify its position in India.

 

Chinese smartphone manufacturer Xiaomi is growing at a rapid pace. Last year, the tech-start-up raised USD 1.1 billion on the $45 billion valuation. This time around, it has received investment from the well-known Indian business leader Ratan Tata.

He has been former Chairman of India's multinational conglomerate Tata Group. Previously, he has funded Indian start-ups including online retailer Snapdeal.com. Tata's interest in Xiaomi might help the Chinese company boost its presence in India. At the moment, there are no details regarding the exact amount that has been invested.

The announcement was made by Global VP of Xiaomi, Hugo Barra, on Twitter. A few minutes later, Xiaomi's India head Manu Jain, confirmed the same by posting his picture with Ratan Tata and Hugo Barra.

India is world's third largest smartphone market. The Chinese manufacturer currently holds No. 3 position in the global smartphone market. Little wonder then, Hugo Barra, recently took to the stage in Delhi for the global launch the Mi 4i smartphone. Clearly, India is one of the priority markets for Xiaomi.

In a short span, Xiaomi has managed to build strong brand presence in India. The credit mostly goes to Xiaomi's knack of delivering impressive specifications on budget. Take for instance, the Mi 3 smartphone that turned out to be an instant hit in India. It continued the upward trend with the Redmi 1S and Redmi Note 4G.

Within a year of entering Indian market, Xiaomi managed to sell 1 million handsets by December, 2014. By all means, we expect this trend to continue with cash boosts coming in.


TAGS: Mobile Phones, Xiaomi

 
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