Ratan Tata, chairman Emeritus of Tata Sons, has made an investment in Chinese smartphone-market Xiaomi (world’s most valued start-up at $45 billion) but Xiaomi has not disclosed the amount that Ratan Tata has invested in the mobile company. The official announcement was made through International Vice-President Hugo Barra, on his Google Plus page.
Lei Jun, founder and CEO of Xiaomi, said in a press statement,
“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.”
We’re really excited to announce our newest Xiaomi investor — Mr Ratan Tata, Chairman Emeritus of Tata Sons.
— Hugo Barra (@hbarra) April 26, 2015
In India, Xiaomi recently launched the Mi 4i smartphone and the company claims that more than 25,000 customers have registered to purchase the phone. The smartphone goes on sale on Flipkart on 30 April, and Xiaomi will later open it up for sales to other platforms like Snapdeal, Amazon as well.
Mi 4i has a 5-inch 1080p Full HD screen with the all-new Sunlight Display, 2nd-generation Snapdragon 615 Octa-core 64-bit processor designed by Qualcomm India, and is a 4G dual-SIM device. It has a 13MP camera, two-tone flash, and a 5Mp front camera.
Xiaomi has priced the smartphone at Rs 12,999 which is much less than the earlier Mi 4 which was priced at Rs 19,999. Xiaomi also launched the new Mi Band in India for Rs 999.