Chinese smartphone giant Xiaomi today announced its new “MI Ecosystem” sub-brand. “Mi Ecosystem” will hold its ecosystem business. The company will launch variety of products under this sub-brand apart from smartphones, tablets and accessories.
The company has also announced its first product “Mi Induction Heating Pressure Rice Cooker” under this brand. It is priced at RMB 999.
To build this Mi Ecosystem, Xiaomi has invested in 55 companies that design and manufacture products other than the smartphone, Smart TVS and routers. From these 55 companies, Xiaomi has also incubated 29 companies (including Zhimi and Viomu). These companies are doing very good job. Over 20 companies have launched their products and got success in winning 28 international design awards in total. Zhimi and Huami are doing the job in the market.
Among these 55 companies, seven have annual sales of over US$100 million, while two have reached annual sales of over US$1 billion. So, we can assume how big this ecosystem is going to be.
Xiaomi started working on this Ecosystem over a year ago with a separate division. The company started investing few startups and mature companies to bring innovative products in this ecosystem. So, do not see Xiaomi as just a phone maker. In coming months, you will see different kind of home products with innovative technology under this new sub-brand.
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