Can Loan US $ 1 billion, Xiaomi Ambition to Global Expansion

Lei Jun
Xiaomi announced that its subsidiary Xiaomi H.K.Ltd has secured a loan of US $ 1 billion.

The loan was obtained from a syndicate of 18 banks in Europe, the Middle East, India, China, Hong Kong and Taiwan, with a three-year payment period.

In 2014 Xiaomi also got a loan with the same value and timeframe.

Founder and CEO Xiaomi Lei Jun said the loan will be used to strengthen Xiaomi's business through online and offline retail channels. In addition, the Beijing-based company is about to use this loan for global expansion.

Xiaomi said the above two strategies are part of the company's 5 strategies to keep growing and prospering.

"The global syndication of top banks can be seen as a strong support for Xiaomi by international financial markets," said CFO Xiaomi Shou Zi Chew.

For your information, Xiaomi recently announced the delivery of 23.16 million smartphones in the second quarter of 2017. That number increased 70 percent from the previous quarter and is Xiaomi's highest record in terms of smartphone shipments per quarter.

Xiaomi also refine their Triathlon business concept, from the original hardware, software, Internet service, to hardware, retail services, new internet. Xiaomi regards retail as an important strategy for the company. Xiaomi now has 149 Mi Home stores all over China. 

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