Ratan Tata Invests In Xiaomi – Written by Chitranshi

Maker of Xiaomi has announced that Ratan Tata,chairman emeritus of Tata Sons,has made an investment in the company.It is an first investment made by an Indian in this company.Lei Jun,Founder and Chief Executive Officer of Xiaomi said,’Ratan Tata is one of the well-respected business leaders.An investment by him is an affirmation of the strategy undertaken by them in India so far’.Xiaomi is one of the fastest growing companies in the world.Till now,’it has brought innovative business models and high quality products to India’-Ratan Tata said in his statement.Xiaomi is planning to bring more products to India-a market which will be its main focus in 2015 and where it wants to be number one in five years.Not yet the size of the investment has been disclosed and this is an investment contributed in his personal capacity not by Tata Group.
According to the Xiaomi company,Ratan Tata will act as an advisor in the subsequent years for them so that they can seek his advice on how do they truly build Indian company.’We can’t think of a better advisor than him’ said by Manu Jain( Xiaomi India Head).Lei Jun founded Xiaomi in 2010.Xiaomi launched its much awaited Mi4i smartphone exclusively in India on 23rd April in the New Delhi unveiling its salient features that supports six Indian languages at rupees 12999 only. A company has adopted a flash sales based distribution model through an exclusive tie-up with online marketplace ‘Flipkart’.Mr. Ratan Tata is very excited about Xiaomi and of plans for India.Tata’s investment in Xiaomi comes against the backdrop of an aggressive push by Xiaomi in India after entering the market which has gain huge potential growth which came in July,2014.Yet,Xiaomi sold 61 million smartphones in 2014 and it ranks third in the world.CEO Lei Jun previously projected that the figure would reach 100 million in 2015 and which is possible only through international expansion and new devices.According to him India is sure to be a key factor in making that happen.An investment made by Ratan Tata is another indicator of Xiaomi’s ambition in achieving it in India.

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