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China’s Xiaomi to invest in India, launches budget smartphones


By Nivedita Bhattacharjee MUMBAI (Reuters) – Chinas Xiaomi said it intends to invest heavily in India as the budget smartphone maker launched on Tuesday its flagship Mi phone and other products in the worlds third largest smartphone market, currently dominated by Samsung Electronics Co Ltd. Xiaomis International Vice President Hugo Barra, a former Google Inc executive who joined last year, said the company does not expect to turn a profit in India any time soon. He said the privately owned Xiaomi was planning to build India-specific features for its phones and set up a local team to help penetrate one of the worlds fastest growing smartphone markets. Theres no point in thinking about profits at this early stage, he said by telephone from New Delhi, where Xiaomi launched the Mi 3, the cheaper Redmi and its Redmi tablet. Localization will be key to Xiaomis fortunes in India, where it will have to convince users to turn away from the apps and services they are used to and adopt Xiaomis own system.

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