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Xiaomi secures $1 bn loan to boost retail footprint, global expansion

Xiaomi is now present in over 40 countries and regions where it has leading market shares

IANS  |  Beijing 

Xiaomi
Xiaomi also toppled Samsung in the best-seller slot for smartphones in the under Rs 10,000 segment in India

Chinese has secured a $1 billion to expand its footprints globally and increase its retail opportunities, the company said on Friday.

The has secured a three-year term $1 billion syndicated agreement from a total of 18 banks across India, Europe, the Middle East, China, and

previously secured a three-year $1 billion syndicated in 2014.

"New retail, which is the integration of online and offline retail, and globalisation are two of the company's top five strategic areas for development. The syndicated will further boost its efforts to develop these areas," Lei Jun, CEO and Founder, said.

In the second quarter of this year, shipped 23.16 million smartphones globally -- an increase of 70 per cent from the previous quarter.

"still offers the best value in the Chinese and it remains the preferred choice for price-conscious consumers. The online channel continues to be a key route to for and this quarter saw it take the lead in the 618 online sales events across platforms," said Lucio Chen, a Canalys Research Analyst.

The Chinese maker has also toppled Samsung in the best-seller slot for models in the under Rs 10,000 segment in India in the second quarter of 2017, research firm Counterpoint Research said this week.

The top two positions were grabbed by Redmi Note 4 with 7.2 per cent and Redmi 4 with 4.5 per cent share, followed by Samsung Galaxy J2 at 4.3 per cent.

is now present in over 40 countries and regions where it has leading shares.

Earlier, signed a multi-year patent agreement with Nokia, which included Xiaomi's acquisition of patent assets from

The company currently has 4,806 granted patent assets, of which 2,404 are international patents, creating a strong foundation for Xiaomi's plans.

First Published: Fri, July 28 2017. 14:50 IST
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