According to a report that reveals Xiaomi‘s India ambitions, we could see the China-based company launching several new products in India. The filing reveals Xiaomi’s India ambitions are spread across a range of categories – from some financial services to electric vehicles, laptops, gaming consoles to merchandise like clothes, toys and more.
Xiaomi payments bank, laptops, electric vehicles and more
According to the latest filing with the Registrar of Companies, Xiaomi has expressed interest in launching its own payments bank and other related non-banking financial services. In addition to payments bank services, Xiaomi’s filing also extends to leasing, financing and payment gateway services.
Xiaomi India’s updated Objects clause also includes products like electric vehicles, transport equipment, their components and spare parts as well. It also includes other electronic products like laptops, gaming consoles, computer accessories and more. Back in China, Xiaomi sells a wide range of products – clothes, toys, powerbanks, laptops, gaming consoles, electric scooters, cycles, and also provides payment services. Other than these products, Xiaomi also sells home appliances like air conditioners, TVs, refrigerators, washing machines and more. The company’s amended Memorandum of Association with an updated Objects clause will let the company sell some of these products in India as well, subject to any required regulatory approvals. In a statement, a Xiaomi India spokesperson confirmed, “We have expressed our interest to bring several of our non-smartphone products to India multiple times, but only after ensuring that we have picked the right product and customised it to India’s needs,”
Will you use Xiaomi payments bank or buy Xiaomi laptop?
Xiaomi is already huge in India, with the latest quarter results placing it on jointly on top with Samsung in terms of marketshare. With a captive user-base, Xiaomi can now try and expand its product portfolio to diversify easily in the country. But the question at the end of the day is, will you use Xiaomi payments bank or buy a Xiaomi laptop? There are dozens of payments bank services in the country already, so unless Xiaomi offers something different and unique in this regard, it could be just another payments bank service.
