Xiaomi leads Indian music and video provider Hungama to deploy mobile content

Xiaomi has led a $25 million financing for Indian music and video online provider Hungama, seeking to attract more users in India, the world's fastest-growing smartphone market. Hungama's movie library has 8000 Hindi films, and has more than 65 million monthly active users on music, video and film platforms. The expansion of faster 4G mobile network coverage in India is expected to drive demand for digital content.

Beijing time on April 4, according to foreign media reports, Xiaomi led the US$25 million financing from Indian music and video online provider Hungama Digital Media Entertainment, seeking to attract more users in India, the world's fastest growing smartphone market.

"India is a fast-growing strategic market for us, and it's time to provide our services here," said Hugo Barra, Xiaomi's vice president of global operations. Xiaomi will start integrating Hungama content into its products, including themes and ringtones.

As the world's fifth-largest smartphone maker, Xiaomi is competing with Samsung Electronics, Apple and other rivals to sell equipment in India. Data from market research firm Gartner shows that although the global smartphone market will not achieve double-digit growth this year, smartphone sales in India will increase by 29%. Although India has a population of 1.2 billion, only 220 million smartphone users are expected to be used.

Hungama's movie library has 8000 Hindi films, and has more than 65 million monthly active users on music, video and film platforms. The expansion of faster 4G mobile network coverage in India is expected to drive demand for digital content.

Barra said Xiaomi's investment in Hungama was "quite large." Existing investors such as Intel Investments, Parkchamp Investments and Indian billionaire Rakesh Jhunjhunwala also participated in Hungama's round of financing.

NeerajRoy, founder and CEO of Hungama, said in a statement: "With this investment, we intend to further strengthen our film and TV services. In fact, Hungama Play will soon add 1500 hours of Indian and English TV content."

According to relevant media reports, Xiaomi said in March last year that it would invest further and start production locally in India in the next 12 to 18 months. India is one of the fastest-growing markets in the world, with South Korea's Samsung Electronics and some local companies including Micromax currently dominating this market.

Editor: kong