Apart from smartphones, the Internet of Things (IoT) ecosystem is equally important for Xiaomi. At an ongoing event, the Chinese company has launched a sub-brand, called ‘Mi Ecosystem’. As the name suggests, the company’s IoT products will now be placed under this brand.
Under its new Mi Ecosystem, Xiaomi today announced a new lineup in China called ‘MIJIA’, which translates to Xiaomi Smart Homes. One of the first products to be launched under the MIJIA lineup is the smart rice cooker. This 999 Yuan (Rs 10,200 approximately) rice cooker lets you control how the rice is being cooked inside via an app.
With a highly saturated Chinese smartphone market, Xiaomi has been focusing on creating an ecosystem of Internet-connected devices. Last year in an interview with WSJ, Xiaomi’s President Bin Lin talked about the company’s ambitions that stretch beyond smartphones. “We’d rather be called an Internet company. We sell all these products online directly to consumers. And we are focusing on building out smartphones as the center of all these devices that we launch,” Lin said.
Xiaomi says it has invested in 55 startups so far, which are a part of its Mi Ecosystem. These include Mi Air Purifier maker Zhimi, and Mi Water Purifier maker Viomi among others. Xiaomi says that Zhimi’s annual sales of air purifiers crossed one million recently, while Zimi has sold over 46.9 million power banks to date. Another startup Huami has also sold over 18.5 million fitness bands till date. Going forward, the company is also reportedly set to launch smart electric bicycles.