Xiaomi borrows a billion to open a few shops
 

Big sales drive

Chinese smartphone maker Xiaomi has popped to the bank and scored a billion-dollar loan to accelerate its drive into brick-and-mortar stores and help a push overseas.

The bank must think it is good for it, it paid off a three-year $1 billion syndicated loan in 2014.

Xiaomi has been doing ok flogging its phones after being hit by competition from rival Huawei, Vivo and Oppo. The company shipped 23.16 million smartphones in the second quarter of 2017, up 70 percent from the previous quarter, marking a record high for its quarterly smartphone shipments.

The loan, which was coordinated globally by Deutsche Bank and Morgan Stanley, involved participation from 18 banks in Europe, the Middle East, India, China, Hong Kong and Taiwan.

http://fudzilla.com/news/44184-xiaom...en-a-few-shops