Xiaomi brings in banker to boost fintech push

By Wei Sheng

Xiaomi has hired the president of an online bank to lead the smartphone maker’s budding consumer finance business, the company announced Thursday.

Why it matters: The Beijing-based company is actively seeking new growth opportunities outside sm…

Xiaomi spent $65 million on share buybacks this week

By Wei Sheng

Chinese smartphone maker Xiaomi has spent $64.5 million on buying back its shares in the past two days, company filings show.

Why it matters: The buybacks come during a slump in Asian markets, with Hong Kong’s Hang Seng Index falling 1.9% on We…