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Xiaomi Plans to Bring 10 5G Smartphones in Year 2020

Additionally, Jun noted that Xiaomi's IoT platform has connected 196 million devices, and the number of users of IoT devices exceeds 3 million

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The highest demand among people was for of smartphones, followed by Mi ecosystem devices, accessories and Mi TVs. Wikimedia Commons

Chinese handset maker Xiaomi is aiming to introduce at least 10 5G smartphones in 2020 as it mulls quickly making 5G devices just as common as 4G phones.

According to the handset maker’s founder Lei Jun, Xiaomi aims to launch 5G phones that could cover the full range of prices from the lower to the higher end.

During the company’s developer conference held here, Jun said that all Xiaomi smartphones with a price tag of more than $285 (2000 Yuan) will be 5G phones.

MIUI 11
Chinese smartphone manufacturer Xiaomi is also reportedly planning to add three new features to its MIUI 11 user interface. Wikimedia Commons

Although Chinese smartphone brands have started introducing 5G phones this year, even before the official commercialization of the network in the country, Lei believes that demands for 5G devices will only take off when a large number of local consumers are willing to change their handsets into 5G-enabled ones, ZDNet reported on Wednesday.

The company has already launched a 5G+AIoT strategy so as to increase the development and adoption of the use of its AIoT services.

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Additionally, Jun noted that Xiaomi’s IoT platform has connected 196 million devices, and the number of users of IoT devices exceeds 3 million.

Recently, MediaTek announced that it will hold a new product launch conference on November 26, officially releasing a new 5G chip and there is news that the first model of MediaTek’s 5G chip is likely to be the Redmi K30. (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)