Chinese smartphone producer, Xiaomi, announced that it has signed a $ 1 billion new credit agreement in order to open new stores and spread around the world. The technology giants in the world, Baidu and Alibaba, which work in different areas, from cloud computing to artificial intelligence are also among the companies that got into debt to grow their businesses.
The decrease in the growth rate of e-commerce leads technology companies to differentiate their businesses. The new loan of the company, which paid back $ 1 billion in 2014 in 3 years, has the same characteristics.
Xiaomi which has been hit by brands like Huawei, Vivo and Opp, has recently begun to see a rise in phone sales. In the second quarter of 2017, the company sold 23 million 160 thousand smartphones with an increase of 70 percent compared to the previous quarter. This amounts to a record level in quarterly sales. Globally coordinated by Deutsche Bank and Morgan Stanley, the loan includes the participation of 18 banks in Europe, the Middle East, India, China, Hong Kong and Taiwan.