Xiaomi, the Chinese smartphone maker, was once considered as the most valuable company of the world. It has now made an authoritarian filing in India claiming its growth roadmap in the nation, which comprises plans to trade electric cars and making an entry in the business of payments bank.
As per filing of Xiaomi with the RoC (Registrar of Companies), a copy of which is with the local media, the Beijing-located firm claimed that it can probably trade all kinds of cars for conveyance & transport as well as trade other transport tools, whether powered on electricity or any other mechanical or motive power, including the spare parts and components.” Xiaomi is also ready for venturing into other segments. In its filing, the firm claimed that it wishes to carry on the business of payments bank, nonbanking fiscal companies, other financial services, leasing and financing, settlement systems operators, payment gateway, and mobile virtual network operators”.
Other goods the firm is seeking to trade in India comprise gaming consoles, laptops, lifestyle products, computer accessories, and network equipment. It also wishes to probably sell and manufacture its merchandise such as toys, clothes, suitcases, and backpacks. The filing arrives in the middle of media reports that the company aims a preliminary share sale in 2018, taking the valuation of the company more than $50 Billion and assisting lift money for reinforcing its place in the consumer market of India among other factors.
In China, Xiaomi has already rolled out electric bikes, comprising models that are foldable, electric scooters, and bicycles. It also trades tablets, laptops, smart lighting solutions, televisions, and health products such as blood-pressure monitors and electric toothbrushes. It also produces appliances such as refrigerators, washing machines, vacuum cleaners, air-conditioners, and water purifiers. Range of lifestyle products from Xiaomi comprises toys, apparel, bags, shoes, bedding, luggage, kitchen, bath, and dining products.