Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Xiaomi Invests Rs 3,500 Crore into Indian Business

Xiaomi Invests Rs 3,500 Crore into Indian Business

Xiaomi has pumped in Rs 3,500 crore into its Indian business, the ET reported on Monday. The new investments mark the highest fund infusion for the company since it entered the Indian market four years ago.

People familiar with the matter stated that the capital would be used to expand the Mi home retail chains and also foray into the white goods segments like refrigerators, laptops, washing machines, and purifiers.

The regulatory filings with Registrar of Companies stated that Xiaomi invested the money into two branches of the Xiaomi Technology India. Both the infusions were carried out this year; the first one on January 17 - Rs. 1,500 crore and the second one on March 1- Rs. 2,000 crore. The company did not mention anything about the fund usage in its fillings.

The investments were made by Xiaomi Singapore Pte Ltd (the holding company); owns 99.9% of the Indian business and the remaining 0.1% is owned by Xiaomi HK Ltd. The number of shares that were offered by Xiaomi Technology India to the holdings company during the first transaction was 3,786. And the number of shares that were allotted during the second transaction was 6,959. All the share offerings were decided on a premium right basis.

Xiaomi India has spent their money very carefully until now since it depended on an asset-light model and has been using the resources to expand their business.

Currently, Xiaomi has been dependent on e-commerce sites like Flipkart and Amazon to sale their products in India. As per reports by Counterparts, a Hong-Kong based market tracker revealed that Xiaomi led the Indian smartphone market in Oct-Nov quarter of 2017; overtaking their rivals Samsung.


Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...