The leading giant Xiaomi has received $ 1 billion in loans to develop its international concerns and build its online sales business.
According to Xiaomi, it has received a three-year syndicated loan agreement of $ 1 billion. The syndicated loan was led by Deutsche Bank and Morgan Stanley as the lead bank and led by Bank of China (Hong Kong), Deutsche Bank and Wing Lung Bank.
The loan is aimed at further boosting xiaomi's focus this year as stated by Lei Jun, founder and CEO of Xiaomi, including expanding its international business. Xiaomi is now going great with its sales and services partners in more than 20 countries and has established offline presence.
Xiaomi in China opened around 150 home stores, while in India opened first three and hoping to reach 100 in the next two years pan india. These stores are designed to blend online and offline business worlds, enabling customers to get the best results, such as ordering or trying to order in the store.
Xiaomi is now present in over 40 countries and regions and Lei Jun said that "Innovation combined with patent accumulation is the cornerstone of Xiaomi's overseas expansion strategy,". Xiaomi currently has 4,806 granted patent assets, of which 2,404 are international patents.
In the international arena, Xiaomi did not explicitly specify which emerging market, but whether it has recently referred to the patent agreement with Nokia, for the global expansion to create a "strong platform."
Xiaomi's business experienced a recovery after two difficult years of pain, where it missed the 2015 sales target and thereby experienced a bad taste of business in 2016. However, in the past quarter, xiaomi shipped a staggering 23.16 million smartphones, up 70 percent from the previous quarter. In China, it jumped over the apple, sold to 15 million units, ranked third. In India it stood up as one of the best selling brand with tremendous increase in sales and services.
[Other] Xiaomi acquired loans of $ 1 Billion to expand its international business