Xiaomi is taking big steps to conquer the Indian market. The company made its first big investment in India’s Hungama, a video and music streaming service, to “start integrating content in our smartphones”. Soon, you will see the final result of their mixed media partnership on your device! #mobilemagic
Hungama received $25 million worth of funding from Xiaomi to integrate their features on Mi smartphones in India. While they’re planning to expand their services using the money – currently streaming 8000 movies through their platform, Xiaomi is thinking bigger. For them it’s more than an opportunity to bring users quality, diverse content – it’s also a way “to grow together with them and deepen our understanding of the content sector in India”, said Xiaomi VP Hugo Barra in a statement.
Indeed, Hungama caters to 65 million users, an important customer portion Xiaomi wants to reach. Since 2014, they are trying to gain marketshare in India and so far, haven’t exceeded their target, India representing a small percent of their 70 million global sales last year.
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