A report on Reuters reveals that Xiaomi, Chinese electronics giant, just signed a deal for a $1 billion loan to accelerate its drive into brick-and-mortar stores and help a push overseas.
This loan was coordinated by Deutsche Bank and Morgan Stanley, with participation with 18 banks from Europe, the Middle East, India, China, Hong Kong and Taiwan.
Back in April, the Xiaomi senior vice president Wang Xiang told Engadget that his company was not ready to supply the American market. Or any new one for that matter.
Now, with this influx of financing, Xiaomi could finally have the help necessary to properly penetrate the American market. Perhaps the budget could be invested in marketing and communication? The American user loves a deal, sure enough, but he also likes a strong line-up of features. Seeing how the flagship Xiaomi Mi 6 offers a 5.15-inch Full HD display, 4 or 6 GB of RAM, 32, 64, and 128 GB of storage, plus a 19MP rear cam with 8MP selfie shooter, all of them powered by a 3,200 mAh battery, we’re sure Xiaomi will find a strong footing in the West.
According to some reviewers, Xiaomi Mi 6 is considered a better deal than Samsung S8, so perhaps in one or two years we’ll see Xiaomi more often mentioned alongside Apple, Samsung and Motorola.
In any case, there is no denying that Xiaomi is on an accelerated rise: it was named the world’s most valuable start-up in 2014 and just posted record high earnings. The company shipped 23.16 million smartphones in the second quarter of 2017, up 70 percent from the previous quarter.
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