Xiaomi, tagged as the number 1 smartphone brand in India since overtaking Samsung in Q4 2017 has invested Rs. 3,500 crore on its Indian entity. This investment is highest since Xiaomi entered Indian market in 2014.
Industry executives said that Xiaomi will utilise the finds to enter new segments in India apart from smartphones and Smart TVs such as Air Purifier, Washing Machines, Laptops, etc which they have already been selling in China.
This investment comes at a time when Samsung has changed its smartphone strategy in India to regain market leadership by giving up on profit margin.