Xiaomi is in talks with mobile technology startups offering services and applications that Xiaomi can integrate with its own MIUI platform, the OS that it employs on its phones and offers it to its customers. Read more on Mobile Phone Companies
“We are exploring and are looking at a few of startups in the mobility space. We have done one investment in Hungama so far”, Manu Jain, Xiaomi’s India head said.
The Chinese company had made its first investment in India, by funding Hungama Digital Media Entertainment in April, last year (2016). Hungama is an aggregator and publisher of entertainment content on the Internet. Generally, Xiaomi invests anywhere between US $100,000 to millions of dollars on established firms and startups. The company has made investments on software, hardware and content companies in China. Xiaomi is however, not planning to invest in the hardware sector in India as the company believes that mobile phone hardware is still in its early stages in India. Apart from mobile phones, TVs and routers, all other Xiaomi products are designed and manufactured by third party companies and they get integrated from a software perspective into Xiaomi apps. Manu Jain said that 75% of Xiaomi’s mobile phones are currently manufactured in India.
“Our sales are growing and share of make in India phones is growing significantly per month. We are massively expanding our capacity in India. We are happy with what we are doing and are moving very fast”, Manu Jain said.
India is a booming economy with smart phone usage increasing year by year. The mobile phone companies and the mobile technology in India have tremendous scope for growth. It is heartening to see that a Chinese company like Xiaomi has made its first investment in India by investing on the online entertainment startup, Hungama Digital Media Entertainment. There are a lot of mobile companies in India, which design useful, innovative and sometimes fun mobile apps, which Xiaomi can integrate into its mobile phones. Investing on Indian mobile technology companies will be a win – win situation for both the Chinese company and the Indian startups. Read more on Startup News
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