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Xiaomi becomes world’s 3rd largest phone maker, acquires $1bn loan to push into more markets

Xiaomi becomes world's 3rd largest phone maker, acquires $1bn loan to push into more markets
It’s now certain that Chinese phone maker Xiaomi are heading nowhere else than for the throne. The tech company, according to analysis presented by IHS iSuppli, was the highest seller of smartphones in the 2014 Quarter 3, bare Samsung and Apple. But with the way things are going, there seems to be more significant changes coming for the food chain at the top, so says common sense.

During the 2014 Q3, Xiaomi sold 19 million smartphones to take the third position, having outpaced Huawei who now sits fourth with an estimated 16.8 million units sold during the same period.

To get things even more spiced, Xiaomi is inside the market to ship for loans which will equip the privately-managed company to expand into more markets as planned. In achieving this, Xiaomi has assembled 19 banks in China and overseas who it plans to collectively borrow the sum of $1 billion in order to finance it’s business plan.

Charles Borrowmeo

Web designer, Internet marketer and blogger. I love listening to hip-hop, soul and R&B. When I'm not surfing the Internet, you'll find me playing video games, skating or watching football (die-hard Chelsea FC supporter).

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