Millet will take a large sum from IPO financing to expand India business.

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 Millet will take a large sum from IPO financing to expand India business.


Part of the global business expansion will be used in India, Jia said in an interview with the India media for the first time after the IPO. In India, our smartphone and Mi.com construction have made great progress, but in the Internet services, investment start-ups and the development of Indias unique internet of things equipment. Face, we can do more.

He also said that Indias business has no need to invest heavily from outside, because it has already made profits.

Millet has been building a series of Internet services in India, including streaming media services MiMusi (rice Music) and file sharing application MiDrop, as well as its MiBrowser and MiStore shopping applications. In addition, Xiaomi recently launched a loan service MiCredit in India to provide loans up to 100 thousand rupees.

Millet has invested in 10 start-ups in India, several of which are in line with Millets strategy to build Internet services. For example, investment in Sharechat for social network applications, as well as investment in digital content platform Hungama and loan start-up Krazybee, and millet has already launched products in collaboration with these start-ups.

As millet expands Internet services, technology giants such as Google, Facebook, Paytm and Amazon have been building their service ecosystems and investing in many fields. Millet seems to be emulating apple, creating a number of services for its hardware users, said Anand AnandLunia, co - founder of India Quo-tient. Quo-tient has invested several times with ShunweiCapital, the investment institution of Xiaomi and its founder.

Millet is also consciously expanding to high-end smart phone. Almost all mobile phones in India have been below 30 thousand rupees. According to industry experts, its only high-end smart phone is MiMix. We realize that it is time to focus on the high-end market, he said. We have to choose our battlefield and consciously make the decision that if we want to win in India, we cant go away from the average price.

Many Indian consumers are starting to buy their second or third smartphones, and now its important that we dont let them down, he added. In August 8th, Xiaomi India announced the launch of MiA2AndroidOne smart phone. However, the price of the smart phone has not yet been disclosed.

In addition, Jia said millet will also promote the development of Mi.com. He claims that Mi.com has become Indias third largest website in terms of overall GMV. Our estimate is that for the whole GMV, we think we are the third largest online sales platform, he said.

The Mi.com team built a number of features, such as swapping, MiProtect, day-to-day delivery in some big cities, and discounts for multiple merchandise combinations. Jia said millet will continue to sell products through platforms such as Flipkart and Amazon. In addition to Mi.com, we also sell through Alibaba and Jingdong, he explained. However, we are competing with them, for example, our MiPay is the competitor of Alipay. Market research company Counterpoints latest data on Indias smartphone shipments showed that millet was first taken away by Samsung Electronics in the second quarter of this year in the first position of Indias smartphone market share. This is the first time the Korean electronics giant has been recaptured in Indias smartphone market since it was taken away by millet last year. Its important for us to be number one, but if were not number one in a season, were not upset about it, Jain commented. He said millet is still using offline channels (such as MiHome stores) and partnership to increase sales, and it is expected that by the end of next year, offline sales will reach 50% of total sales. (Tianmenshan Mountain) source: NetEase science and technology report editor: Yao Liwei _NT6056

The Mi.com team built a number of features, such as swapping, MiProtect, day-to-day delivery in some big cities, and discounts for multiple merchandise combinations. Jia said millet will continue to sell products through platforms such as Flipkart and Amazon. In addition to Mi.com, we also sell through Alibaba and Jingdong, he explained. However, we are competing with them, for example, our MiPay is the competitor of Alipay.

Market research company Counterpoints latest data on Indias smartphone shipments showed that millet was first taken away by Samsung Electronics in the second quarter of this year in the first position of Indias smartphone market share. This is the first time the Korean electronics giant has been recaptured in Indias smartphone market since it was taken away by millet last year.

Its important for us to be number one, but if were not number one in a season, were not upset about it, Jain commented.

He said millet is still using offline channels (such as MiHome stores) and partnership to increase sales, and it is expected that by the end of next year, offline sales will reach 50% of total sales. (Tianmenshan Mountain)