Xiaomi eyes Indian mobile technology start-ups for investments, tie-ups

Tuesday, August 16, 2016

Hyderabad: Smart devices maker Xiaomi Inc is scouting the Indian market to invest in mobile technology start-ups and to forge partnerships with local content creators as part of its strategy to build an ecosystem around its products in the country.

The Chinese firm sells smartphones, tablets, fitness bands, power banks and Bluetooth speakers in India. It has plans to introduce its brand of air purifiers and smart television sets in India.

But the TV launch might take some more time because the company is yet to finalize its content strategy, according to Manu Jain, India head of Xiaomi.

Xiaomi’s investment in digital media firm Hungama Digital Media Entertainment in April was a step towards building its services ecosystem in India, Jain said. The company led a $25 million round in Hungama in its first investment in the country.

Two Hungama apps, Hungama Music and Hungama Play, will be made available, free of cost, to Xiaomi users for 12 and three months, respectively.

Source: LiveMint (link opens in a new window)

impact investing