Comment on Xiaomi to Invest US$200M into Chinese Home Appliance Giant Midea by Xiaomi Announces 61M Annual Shipment for 2014, Unveils Budget Smartphone RedMi 2 - TechNode

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-12-14 00:00:00

Xiaomi and Midea, a leading Chinese home appliance maker, today announced a strategic partnership in which the former would acquire a 1.29% stake in the latter for RMB1.266 billion (about US$200 million). Xiaomi plans to invest in 100 hardware product companies and sell their products on its online store. Some 25 companies have got on board, according to Xiaomi. As one of the biggest home appliance makers in China, Midea shipped 250 million products in 2013. The company will launch 25 smart home products by the end of this year.