The Chines tech giant, Xiaomi Corp. said that it is looking to invest around Rs 6,000 to Rs 7,000 in 100 start-up companies in India. The investments will be done in a phased manner in the next five years to strengthen its hardware and software ecosystem.
Xiaomi Corp. had already invested Rs 3,000 crore in 10 startup companies till 2017, said Manu Kumar Jain, the managing director and vice-president of Xiaomi India. The startups the company is looking to invest is in mobile software tech side, which will be extremely useful to diversify its portfolio in the internet ecosystem.
Xiaomi Corp. is looking beyond the smartphones in India, which is evident with the launch of its first flagship experience store in Chennai a few weeks ago. The products that can be experienced in this store include smart shoes, smart bike, smart rice cooker, laptop and water purifier. Xiaomi wants to understand the customer's feedback on this products and aspires to launch a few products in India, said Manu Kumar Jain.
India is the first market outside China for Xiaomi to launch Smart Televisions. Currently, Xiaomi sells smartphones, smart TVs, air purifiers and mobile accessories in India.
Xiaomi has around 27% combined online and offline market share in India and the company seeks to grow 20 to 30 times in offline sales in India in the coming years.
Xiaomi Corp. had already invested Rs 3,000 crore in 10 startup companies till 2017, said Manu Kumar Jain, the managing director and vice-president of Xiaomi India. The startups the company is looking to invest is in mobile software tech side, which will be extremely useful to diversify its portfolio in the internet ecosystem.
Xiaomi Corp. is looking beyond the smartphones in India, which is evident with the launch of its first flagship experience store in Chennai a few weeks ago. The products that can be experienced in this store include smart shoes, smart bike, smart rice cooker, laptop and water purifier. Xiaomi wants to understand the customer's feedback on this products and aspires to launch a few products in India, said Manu Kumar Jain.
India is the first market outside China for Xiaomi to launch Smart Televisions. Currently, Xiaomi sells smartphones, smart TVs, air purifiers and mobile accessories in India.
Xiaomi has around 27% combined online and offline market share in India and the company seeks to grow 20 to 30 times in offline sales in India in the coming years.
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