- Paisa Wasool: Mutual Funds-SIP Returns Calculator | Start from Rs 5k, get Rs 1.75 cr - SOLID MONEY FORMULA
- WhatsApp New Feature: Soon! you can undo, recover WhatsApp deleted messages
- LIC customers ALERT! Insurer launches campaign to revive lapsed policies - All you need to know
- Wealth Guide: Income Tax - SMART TIPS! 5 tax-saving techniques for FY23 - Here is what expert suggests
- Loss-making US company's share price zooms over 400% in one month - factors behind rally DECODED
Xiaomi to sell electric vehicles, loans in India
Maker of one of the most popular smartphones in India, Xiaomi now has bigger plans for the Indian market. The Chinese company plans on selling electric vehicles and entering the payments bank business, according to an ET report.
Xiaomi, in a filing with the Registrar of Companies, said that it has the potential to not only sell all types of vehicles for transport, but also transport equipment such as components and spare parts, based on electricity and other motive or mechanical power, the report said.
The Chinese smartphone maker reportedly aims to sell laptops, gaming consoles, computer accessories, lifestyle products and network equipment in India. Apart from selling smartphones, Xiaomi has also sold power banks and WiFi routers in the country.
According to the ET report, Xiaomi in China has already launched electric bikes, including models that are foldable, bicycles and electric scooters. It also sells laptops, tablets, televisions, smart lighting solutions and health products such as electric toothbrushes and blood-pressure monitors.
These developments come at a time when rumours are rife that Xiaomi is looking at an IPO early next year.
This initial share sale is likely to take the company’s valuation past $50 billion, the report said, adding that this will also help the company raise the funds it needs to expand further in the Indian market.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.