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Ratan Tata acquires stake in Xiaomi, the Chinese handset maker

Ratan Tata has acquired a stake in Chinese handset maker Xiaomi which is the first investment by any Indian in the smartphone maker.

The company has not disclosed the quantum and value of the stake that Ratan Tata has picked in his personal capacity.

“We are truly excited to have Mr Tata on board. We will seek his advice in our journey to becoming an Indian company,” Xiaomi India Head Manu Jain said.

“India is our biggest market outside of mainland China and also an extremely important one. Our goal is to become number one in the next 3-5 years and we are keen on partnerships here,” Xiaomi co-founder and President Bin Lin said.

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