MUMBAI (Reuters) - Ratan Tata, chairman emeritus of the holding company of the Tata conglomerate, has acquired a stake in Xiaomi Technology, a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market.
Financial details of the unspecified stake bought by Tata in Xiaomi, the first by an Indian, were not disclosed in the statement issued by the Chinese company on Sunday.
Xiaomi, the No. 3 global smartphone maker, was valued at $45 billion after a December funding round.
Tata, a respected business leader who was the chairman of salt-to-software Tata Sons for more than two decades, has previously invested in Indian start-ups, including online retailer Snapdeal.
Tata'a investment in Xiaomi comes against the backdrop of an aggressive push by Xiaomi in India after entering the market, which has huge growth potential with just one in 10 people using smartphones, in July 2014.
On Thursday, Xiaomi hosted its first global launch outside of China in the Indian capital New Delhi, unveiling its feature-heavy Mi 4i model that supports six Indian languages at 12,999 rupees.
Xiaomi and other Chinese smartphone makers are drafting in cricket teams and Bollywood stars to conquer India, their largest overseas market and a key testing ground for their international expansion.
"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," Lei Jun, founder and chief executive officer of Xiaomi said in the statement.
"We are looking forward to bringing more products into India," he said.
(Reporting by Neha Dasgupta; Writing by Sumeet Chatterjee; Editing by Clara Ferreira-Marques and William Hardy)
if u want to use ur gadget as a cinema, u can buy a netbook that could save thousands of movies. This phone only for users that want to use hs gadget for daily use, like save hundred photos, hundreds music files, and apps, its enough for that.
but 1 question, is this phone 2g/3g support? or only for lte?
why xiaomi why there is card slot missing? How much it will cost if you give a memory slot?
ashii, 26 Apr 2015Has mi 4i screen protection?? plzz tell me... if it has...I'll surely buy dis phnYes! It has corning glass protection.
Like Obi Wan said to Annakin:
"You were the CHOSEN ONE"
It was going so well, why didn't they put it a microsd card slot? or at least a 64GB version?
I just don't get it, I was just about to consider buying this phone
Xiaomi annouces thos as first global phone.But only selling in India,when one country become global market? Alsoo how company like Xiaomi didnt make offical factory multilanguage rom?
I see that phone is on miui 6 lolipop,and on one video from officall promotion that there is Google play store.So does offical factory miui6 lolipop have google playstore on phone ? Also why there is no 900 mhz on 3g network????
Xiaomi mi 4i has a very excellent specs as compared to asus zenphne 2 ze550ml
no sd card slot, 16 gb internal memory......i can make it work
and also usb otg is supported...cant wait to get my hands on it
Mi 4i is not a Flagship Killer.
Mi Note Pro / Mi Note / Mi 4 is the Real Flagship Killer.
Mi 4i is just a Cheap Version from Xiaomi.
Please, be realistic guys !!!
Xioni is very dispointed memory issue other mi handset mi note/pro memory high mi4i memory is too low only 12 gb and non removal battery Snapdragon chip set 615 so i am very glad
no one can stop me buying this,,,killer flagship smartphone,,no doubt,,sd slot docent matter,,
it has a hsdpa 2100 which is not buy in march 2015 by indian telecom companys,they bought 900 mhz band so 2100 band cant run in inda so no 3G and there are many upcoming phones they had also only 2100 mhz band
AnonD-342554, 25 Apr 2015Some reviewers say that there are talks about a 64gb variant of the mi 4i... Does anyone have ... moreDon't buy advance.... Bcz, everything is OK but without memory card , how is possible? And also only 16 gp... But v can use only12 gp.... No enough memory means our phone is very slow even though 2 gp RAM.....
samcro, 26 Apr 2015mi3 vs mi4i..which one is better? mi3 with snap800?The Mi3 is better than the Mi4i
Those who are reluctant to buy the phone bcz of storage issue.... Mi offers a storage option via Mi Cloud. You can store apps music and photos and access it later using data connection.
The only other concern would be to check if the 2nd gen snapdragon 615 has resolved its heating issues.......
Otherwise the phone is worth the buck.