Xiaomi plans to invest $1 bn in Indian startups: CEO Lei Jun
Chinese smartphone maker Xiaomi's CEO Lei Jun has said that the company plans to invest $1 billion in 100 Indian startups over the next five years. Lei also said that Xiaomi has already invested in six Indian companies including Hungama and KrazyBee. Xiaomi accounted for 23.5% of smartphone shipments in India in the September quarter, according to research firm IDC.