The Chinese tech company Xiaomi makes its first investment in an Indian company; $25 million in Hungama Digital Media Entertainment. Hungama sees more than 65 million users for its music, video and movie content in a month. Local content will be rich as Hungama already has partnered with over 700 content creators in multiple regional languages.
“Our Video on Demand (VoD) service in China has 100 million installs and 30 million daily active users. 4G has played a major role in this. India is now on the verge of witnessing a similar data explosion and we wanted to ensure that we have a big play in this segment,” Xiaomi Vice President Hugo Barra mentioned to the PTI.
Source: Financial Express