The investments will be in sectors such as Fin tech, hyperlocal services, mobile repairs and manufacturing fields. The businesses in which Xiaomi will invest will indirectly help to increase the adoption of mobile internet and technology among the masses in India.
Lei Jun also mentioned that Xiaomi invested $4 billion in over 300 companies in China over the past four years, so it seems like the company is trying to do something similar in India as well. The handset was launched with Android 4.1 Jelly Bean-based MIUI 5.0, which means that Xiaomi supported such devices for five years and it is only legit to drop them from getting further updates as their hardware won't be able to handle the software requirements. We will basically replicate the most successful ecosystem business model of China in India. But the product he was talking about may not be the much-hyped Redmi 5 or the Redmi Note 5, as they are not rural-centric smartphones as such. "That is the Xiaomi business model", Lei said. "We've reached just a huge scale in seven years because of this partnership/affiliation model". If the company meets its investment target, it would become one of the most prolific internet investors in India. In April 2016, Xiaomi led the $25 million investment in India's online music and video provider Hungama Digital Media Entertainment, which is Xiaomi's first investment in India. They're hoping it will differentiate their offerings from other close rivals like Samsung, Vivo, Oppo, Lenovo, Motorola and others.
"Any apps that increase the frequency of usage of smartphones-we're interested in this". As long as it is related to the acceleration of mobile internet.
From November 15, 2017, Xiaomi has suspended the development of MIUI 9 for Mi 2/2S, Mi 4i, Redmi Note 4G, Redmi 2, Redmi 2 Prime, and Mi Note. It has already sharing the No 1 spot with Samsung and has considerable following in the urban area thanks to its affordable devices. The brand is available over 60 countries around the world, and last raised an equity capital at a valuation of $45 billion in late 2014.
According to the report, India is Xiaomi's largest market after China where it sells also sells televisions, air purifiers and other electronic products.
According to Livemint, the company's CEO Lei Jun has said that in order to do this, it will turn to the next-nearest smartphone market giant, India, with a planned investment of $1bn in start-ups in the country.
Truck-van collision near Khairpur leaves 20 dead
Police say the truck was trying to overtake the van when it toppled and crushed the other vehicle. The bus was carrying members of the Brohi community, who were returning to Larkana from Sehwan.