Xiaomi bets big on India, invests Rs 3,500 crore in two tranches
After dominating the smartphones market, Xiaomi is planning to enter the white goods sector in India.
- Mar 18, 2019,
- Updated Mar 18, 2019 12:42 PM IST
Xiaomi is betting big in India and is going all out to maintain its leadership position with an investment of Rs 3,500 crore into its Indian business unit. Xiaomi entered the Indian market four years ago and has invested the money into Xiaomi Technology India in two tranches.
According to a report by ET, the amount was invested in two tranches this year - Rs 1,500 crore on January 17 and Rs 2,000 crore on March 1. It is reportedly the highest amount invested by Xiaomi in India since it started its operations in the country.
After dominating the smartphones market, Xiaomi is planning to enter the white goods sector in India. Xiaomi also sells water purifiers, washing machines, laptops, refrigerators and other smart equipments. The funds would go into the expansion of Xiaomi's product line and its Mi Home retail stores to stay ahead of the competition in the Indian market. The company has already planned to introduce its foldable phone in India as early as April or June this year. The phone is very competitively priced at Rs 74,999.
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Xiaomi is betting big in India and is going all out to maintain its leadership position with an investment of Rs 3,500 crore into its Indian business unit. Xiaomi entered the Indian market four years ago and has invested the money into Xiaomi Technology India in two tranches.
According to a report by ET, the amount was invested in two tranches this year - Rs 1,500 crore on January 17 and Rs 2,000 crore on March 1. It is reportedly the highest amount invested by Xiaomi in India since it started its operations in the country.
After dominating the smartphones market, Xiaomi is planning to enter the white goods sector in India. Xiaomi also sells water purifiers, washing machines, laptops, refrigerators and other smart equipments. The funds would go into the expansion of Xiaomi's product line and its Mi Home retail stores to stay ahead of the competition in the Indian market. The company has already planned to introduce its foldable phone in India as early as April or June this year. The phone is very competitively priced at Rs 74,999.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine