Xiaomi, one of the appealing, smart phone makers in China has obtained a loan of $1 billion this month. This great move was pondered in order to take this corporation to newer heights.
Since its birth, the company has achieved a great deal of fortune through their innovative style smart phones and electronics. The company plans to introduce new technologies to achieve better results.
The CEO and founder of Xiaomi, Lei Jun incorporated this step in order to increase the retail growth of the corporation and to introduce new Home stores in international markets. The Xiaomi tech has 149 Home stores in China and has already inaugurated one in India. This step was the first to introduce the brand in international markets.
The Xiaomi corporations signed the deal on last Friday. The loan was structured and agreed upon by 18 leading banks of China, Europe, Hong Kong, Middle East, Taiwan, and India. The Business Insider reported saying that Morgan Stanley and the Deutsche Bank were the leading global coordinators, with the help of Bank China, Deutsche Bank, and Bank Wing Lung, of this ground breaking deal.
Xiaomi marked this move with the ground breaking increase of 70% sales, with the innovative introduction of Q2 to the markets in 2017. This increase was the subject to the corporation’s new partnerships, ample increase in the retail growth, and the opening of a home store in the Indian market.
They are improvising their software and hardware systems to compete with other brands in the global markets. This brand has recently come in agreement with Nokia, in order to start working with new technologies. The step was amplified in order to enter new international markets and to increase the growth of profit this year.