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Xiaomi speeds up expansion in India with $25m investment in content provider

By Song Jingli (chinadaily.com.cn) Updated: 2016-04-05 11:36
Xiaomi speeds up expansion in India with $25m investment in content provider

Hugo Barra, vice-president of Xiaomi, launched the Mi 5, Xiaomi's latest flagship devices in the India market on March 31.[Photo provided to chinadaily.com.cn]

China's top smartphone vendor Xiaomi Inc announced on Monday that it has invested $25 million in India's Hungama Digital Media Entertainment, along with Intel Capital, Bessemer Venture Partners, and Indian billionaire Rakesh Jhunjhunwala.

This indicates Xiaomi's aim to duplicate its home market success in India?by selling smartphones as platforms for internet services.

"As our user base grows and 4G penetration continues picking up in India, we will start to see more and more consumption of digital media through Xiaomi devices. We are investing in Hungama not only to start integrating content into our smartphones, but also to grow together with them and deepen our understanding of the content sector in India," said Hugo Barra, vice-president of Xiaomi.

Barra launched the Mi 5, Xiaomi's latest flagship devices in the India market on March 31.

Xiaomi speeds up expansion in India with $25m investment in content provider

Indian customers experience the Mi 5, Xiaomi's latest flagship devices on March 31, 2016. [Photo provided to chinadaily.com.cn]

Hungama has more than 8,000 movies in Hindi and other Indian regional languages on its platform and boosts over 65 million monthly active consumers of its music, video and movies.

Xiaomi is ranked the sixth or?seventh in smartphone sales in this prioritized overseas market, Lei Jun, its founder, disclosed in early March and added that he hoped the company could break into the top three club this year.?

The tech giant?entered India in July 2014 and started local manufacturing a year later and now over 75 percent of its smartphones sold in India are made in India.

The company sold 64.9 million smartphones in China last year, taking a market share of 15 percent, defending its crown as the No 1 seller at its home market, according to data from research firm International Data Corp.?

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