Xiaomi banks on phone data for finance play in India
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JAKARTA/MUMBAI (Reuters) - China's Xiaomi is poised to launch a consumer lending business in India in the coming weeks, making an ambitious tilt at the booming financial services market where data privacy concerns and fierce competition present formidable challenges.The stakes are high for the world's fourth largest mobile phone vendor, whose business model relies on low-margin hardware sales with services as a key long-term profit centre. The company reported disappointing second-quarter..