Days after the the Chinese largest phone maker unveiled its latest smartphone, Mi 4i which is specially designed to cater for the South Asian market, the company announced that chairman emeritus of Tata Sons, Ratan Tata has made an undisclosed investments in the company, paving way for the company to expand aggresively into the Indian market.
Xiaomi sold 61 million smartphones in 2014 worldwide and projects the figure to reach 100 million in 2015, driven by international expansions, mainly in India and other growth areas.
Lei Jun, founder and CEO of Xiaomi, in a statement that is published in the company’s Indian Facebook page said that: “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’s country head for India, Manu Kumar Jain welcomes Ratan Tata’s investment in his recent tweets on this latest development.