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Xiaomi now enters financial market services

Xiaomi, the Chinese electronics company major is now venturing in to financial market. Xiaomi which is world's 3rd largest smartphone distributor, which designs, develops and sells smartphones, mobile apps and consumer electronics. Xiaomi was in news with the release of MiPad and Mi4i recently.

This new financial venture currently is within China only to start with, dubbed as "Xiaomi Huoqi Bao" which translates as “Xiaomi savings account".

 Its basically Xiaomi's new personal finance services that will offer deposit rates higher than traditional Chinese banks and will be accessible via an app which would be bundled with Xiaomi handsets.

The service is collaboration between Xiaomi and E Fund Management, one of China's largest wealth managers.

Wiki Sources :.
Xiaomi’s money market fund rolls out of beta, to take on Alibaba and Tencent
Xiaomi enters money market fray with Huoqi Bao service

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