Ratan Tata Buys Stake in Xiaomi
Recently we heard the Chinese smartphone maker, Xiaomi, claiming that it wants to be an Indian company. Today, according to an official post by Xiaomi, Ratan Tata has acquired stake in the brand, making him the first Indian investor.
[quote text_size=”small” author=”Xiaomi” link=”https://www.facebook.com/MiIndiaOfficial/photos/a.1504141266467106.1073741828.1495988390615727/1614587922089106″]
We are happy to announce that Mr. Ratan Tata, chairman Emeritus of Tata Sons, has made an investment in Xiaomi. This is the first investment by any Indian in Xiaomi.
Lei Jun, founder and CEO of Xiaomi, is happy to say: “Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. This is just the start of an exciting journey, and we are looking forward to bringing more products into India.”
Xiaomi has already made it to number 4 in the Indian smartphone market, and with Tata’s investment the company might get major push in the Indian retail market especially Tata Croma retail stores, which will now carry Xiaomi phones.
Xiaomi recently launched a new cheaper version of the Mi 4 dubbed the “Mi 4i” which is expected to do well in the Indian market.