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Xiaomi investing over $7 Billion for AI projects and 5G in India

The giant electronics Xiaomi is making a statement with it’s engagement into smartphones and other technologies. 5G is incredibly attractive technology and compared with Artificial Intelligence make the best things to invest going to 2020.

CEO and cofounder Lei Jun didn’t mention anything about the company’s investment plans for the Indian market, given that it’s the company’s second largest market, a significant amount of the investment is likely to be allocated to the Indian business.

CEO and cofounder Lei Jun didn’t mention anything about the company’s investment plans for the Indian market, given that it’s the company’s second largest market, a significant amount of the investment is likely to be allocated to the Indian business.

Jun said in an open letter posted on the company’s website that 2020 will be a year of breakthroughs for its 5G business and a critical year for a “smartphone+AIoT” strategy.

Xiaomi has preferred to keep much of its IoT devices restricted to the Chinese market, with availability in India limited to third-party ecommerce sellers. With a big investment in the IoT sector, Xiaomi could launch its massive lineup of smart home devices and IoT hardware in India.

Xiaomi India received two infusions from its Singapore parent entity in 2019. In January 2019, the company received INR 1499.9 Cr ($217.4Mn) and in March 2019, another INR 2000 Cr ($289.8 Mn) was poured into the India business, as per filings.

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