December 2016 Current Affairs

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Xiaomi makes first investment in India, leads $25 million funding in Hungama

Xiaomi makes first investment in India, leads $25 million funding in Hungama
05 April 2016 Current Affairs: Xiaomi has made its first investment in India, leading  Xiaomi is leading an investment round of $25 million in Hungama, with existing investors," said Xiaomi's head of international operations Hugo Barra. "At the same time we're partnering for video on demand service in India and integrating it into our platform.The investment marks Xiaomi's first investment into a start-up outside its home market of China, and underlines the importance of the fast growing Indian smartphone market, which is well on its way to become a leading base of internet consumers, from the present base of around 400 million users. Xiaomi will integrate Hungama's video on demand service with the Mi platform available on smartphones and televisions, the latter not yet available in India. The companies did not divulge the timeline of integration, but said that post the integration, the platform will have some free and some paid content that will be part of the monetisation strategy. China's largest smartphone maker is replicating its home model in India, where it has launched two of its leading smartphones in 2016, including the latest flagship Mi 5 last week. Though it trails top five players in the handset sales business, it is among the first amongst the deluge of Chinese players to have invested in a company in India.Xiaomi aims to have a similar ecosystem here and feels that video on demand is one of the fastest growing services which will become a key driver for users to get on to the internet.Barra estimates 4G customers in the South Asian nation to skyrocket to 180 million by 2018, from about 6 million at present.Neeraj Roy, Founder and CEO, Hungama said that the investment will further strengthen the company's movie and television services, besides adding to its 65 million monthly active consumers across platforms that access music, video and movie services in several vernacular languages.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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