Xiaomi extends market portfolio from smartphones to home appliance products

Fast-rising smartphone company is not only keen on challenging the top guns in the high-end smartphone segment but it is also vent on expanding its market portfolio as well especially on its bulwark China. Xiaomi is bullish on becoming the first company in the world in transforming common appliances into smart devices in myriads of households in China.

But in order to make this endeavor a reality, Xiaomi has disclosed that it has forged tie ups with hardware makers to come up with an innovation that will link devices.

Xiaomi CEO, Lei Jun, has stated at an event while disclosing the company’s latest mobile device, that the component is priced at 22 yuan (roughly US$3.6) and can be integrated with all sorts of appliances such as refrigerators, air conditioners, washing machines and among others.

Jun added that Xiaomi’s strategy is to provide a module that will collectively connect smart devices and give the users the power to control household appliances with their mobile handsets.

This innovation is no longer new as technology giant and rival Apple come up with its very own HomeKit that enables smart home vendors to link their products with iOS.

Google is not to be outdone, as Internet behemoth has spent $3.2 billion to acquire Nest, a company that produces smart thermostats that can be connected with mobile devices.

Xiaomi is rapidly making its presence felt in the smart home niche in China as it rolled out an air purifier that can be controlled with a smarphone.

The Chinese company is exploring on making more products to introduce into the market as it has funneled in startups to come up with smart home devices. Last month, the company has poured in $200 million in Chinese appliance maker Midea to jump start smart home projects.

Xiaomi hasn’t divulged details of the smart module, but the company is hopeful that its price will be pegged at 15 yuan next year, and then reduced it further to 10 yuan after two years.

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