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Following Motorola Razr, Xiaomi Receives New Patent for Vertically Folding Handset

In the unfolded state, the device takes the form factor of a regular-sized smartphone with minimum bezels

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Motorola Razr, Xiaomi, Patent
Sketches of the device show the phone has a small display at the top when folded and the display would likely show info such as time, caller ID, and notifications, news portal GizmoChina reported on Thursday. Wikimedia Commons

Chinese smartphone manufacturer Xiaomi has patented a foldable phone concept that folds vertically just like recently launched Motorola Razr foldable smartphone.

The patent was filed back in August 2018 before it was granted and published last month.

Sketches of the device show the phone has a small display at the top when folded and the display would likely show info such as time, caller ID, and notifications, news portal GizmoChina reported on Thursday.

In the unfolded state, the device takes the form factor of a regular-sized smartphone with minimum bezels. The back of the device features a dual-camera setup.

Motorola Razr, Xiaomi, Patent
The patent was filed back in August 2018 before it was granted and published last month. Wikimedia Commons

Last week, the company patented a foldable smartphone with five pop-up camera setup.

According to the patent, this foldable phone has an outward-folding screen and depending on how a user holds it, the five cameras can either be rear cameras or front-facing cameras.

The sketches of the device suggest that it will have a really thin bezels and no display notch. The patent seems to have been submitted on August 20 and was approved and published last week.

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Xiaomi is expected to release a foldable phone by the end of 2019. (IANS)

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Chinese Handset Maker Xiaomi Relaunches MI Credit in India

In India, the lending industry is on an explosive trajectory. As per a recent report from CIBIL, there are over Rs 4 lakh crores worth of personal loans outstanding from nearly 1.9 crore customers, with each user accounting to an almost Rs 2 lakh of outstanding amount

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Xiaomi
Mi Credit by Xiaomi currently services more than 10 states spanning 1,500 pin codes and aims to expand its availability to 100 per cent of the pin codes (which is more than 19,000) by the end of FY2019. Wikimedia Commons

Chinese handset maker Xiaomi on Tuesday relaunched Mi Credit — its digital lending solution in India.

This is Xiaomi’s second Mi Finance solution to be launched in the country after Mi Pay.

According to the company, it disbursed personal loans of up to Rs 28 crore (or Rs 1 crore per day) during the pilot phase which ran though November 2019.

Initially launched in May 2018, Mi Credit is an online curated marketplace for lending, to offer personal loans to Mi Fans, according to the handset maker. The platform is built as the first personal loan choice for aspirational young professionals and millennials.

“Xiaomi’s Mi Finance business started four years ago in China, with an aim to provide fintech innovation for everyone. Today, we have over 300 million Mi Fans in our global community and we see a huge opportunity for consumer lending in India with estimations reaching up to $1 trillion in digital lending by 2023, as per a report from BCG.

“This makes us believe that our Mi Finance business, based on solutions such as Mi Pay and Mi Credit can truly revolutionise the Indian fintech industry,” Hong Feng, Co-Founder and Senior Vice President, Xiaomi Corporation, Chairman and CEO, Xiaomi Finance, said in a statement.

Xiaomi’s current lending partners are primarily non-bank financial institution (NBFCs) or fintechs such as Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya.

Xiaomi
Chinese handset maker Xiaomi on Tuesday relaunched Mi Credit — its digital lending solution in India. Wikimedia Commons

“In India, the lending industry is on an explosive trajectory. As per a recent report from CIBIL, there are over Rs 4 lakh crores worth of personal loans outstanding from nearly 1.9 crore customers, with each user accounting to an almost Rs 2 lakh of outstanding amount. We are bringing Mi Credit to India hoping to provide another truly digital solution for their lending needs,” said Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India further added.

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Mi Credit currently services more than 10 states spanning 1,500 pin codes and aims to expand its availability to 100 per cent of the pin codes (which is more than 19,000) by the end of FY2019. (IANS)