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China's Xiaomi says wants to invest in Indian startups, overseas content
[BEIJING] China's Xiaomi, the world's third-biggest smartphone maker, will invest in Indian start-ups and overseas media content, Hugo Barra, vice president of the company's global division, said in an interview on Friday.
Xiaomi, now the world's most valuable tech start-up, would like to be a significant player in media content, Mr Barra said. "Where we really want to make significant investments is in content, particularly in the Chinese market to start with but beyond that in other markets as well," Mr Barra said. "We are already making some investments for now focused on China, but in the future we will do that in other markets too." "One area that we are also looking to make some investments in is start-ups in India. India is already the largest market for us outside of mainland China," Mr Barra said.
Just three years after selling its first smartphone, a US$1.1 billion round of fund-raising announced in December valued Xiaomi at US$45 billion. The privately held company has risen to become the No 3 handset maker and is now challenging Apple and Samsung Electronics Co as well as domestic rivals such as Huawei Technologies.