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Xiaomi gets a loan of billion dollars for global expansion

Xiaomi gets a loan of billion dollars for global expansion

Photo: Bloomberg

The Chinese smartphonefabrikant Xiaomi has a loan of a billion dollars (851 million euro), received for its global expansion. A consortium of eighteen banks led by Deutsche Bank and Morgan Stanley provided the loan.

That writes the hong kong newspaper South China Morning Post. The loan is in a period of three years paid.

At this time, the company is active in more than forty countries, but it wants to expand even further. In the next three years will Xiaomi two thousand new stores to open in Asia and other markets.

Xiaomi estimated earlier this month to 23.2 million smartphones sold in the second quarter of this year. That is 70 per cent higher than a quarter earlier and a new record for the company.

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