Xiaomi Unveils New Smart Home Devices, Plans to Invest $1.4 Bn in AIoT in Next 5 Years

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  • Xiaomi reported a 56.5 percent revenue jump in IoT and lifestyle products segment in Q1 2019
  • Xiaomi was ranked number one in market share position by shipments for seven consecutive quarters in India.
  • The new Mi Smart Door Lock offers up to six unlocking modes and notifies the user of any actions and statuses of their door in real-time.
The new Mi Smart Door Lock

 Moving forward with its Artificial Intelligence of Things (AIoT) strategy, Chinese handset maker Xiaomi has expanded its line of smart home internet of things (IoT) devices with the launch of a wide range of new products.

As of March 31, 2019, the number of connected IoT devices (excluding smartphones and laptops) on Xiaomi’s IoT platform reached approximately 171 million units, recording a year-on-year increase of 70 percent.

In the first quarter of this year, Xiaomi reported a 56.5 percent revenue jump in IoT and lifestyle products segment in comparison to the corresponding period of 2018.

Overall, the company recorded a revenue of approximately RMB 43.8 billion (approx. USD 6.3 billion) in Q1 2019, representing a year-on-year increase of 27.2 percent.

Looking ahead, the company plans to invest RMB10 billion (USD 1.4 billion) in the development of ‘All in AIoT’ in the next five years. On March 7, 2019, the company established the AIoT Strategy Committee to help its AIoT development and enhance synergy among our departments.

“We will replicate our success in the enhancement and adjustment of business strategies in the domestic market to our international markets,” said Xiaomi Founder, Chairman and CEO Lei Jun.

Xiaomi announces a host of smart home AIoT products

Further expanding its product portfolio, the company on June 11 unveiled a host of new smart connected devices in Beijing. These include a smart band, door lock, combo wash dryer, kitchen exhaust hood, stove top set, induction cooker, AI translator, rollerball pen and hover shoes.

Xiaomi, in partnership with LINE FRIENDS, has also launched a special limited edition of the Mi Luggage 20, which is available at RMB 399 (USD 57.60).

“Xiaomi believes the era of smart home living is here and the goal is to become one of the leading brands in smart appliances through integrating AI, big data, and cloud computing, so that everyone can enjoy high-quality smart products at accessible prices,” the company wrote in a blog post.

Xiaomi plans to further expand its smart home appliances product portfolio by launching a series of home appliances, including smaller sized variants, across all categories in households.

Xiaomi’s India presence

Xiaomi has been introducing more IoT and lifestyle products into the India market and have become market leaders in several product categories including smart TVs and wearables.

According to Canalys, Xiaomi remained number one in market share position by shipments for seven consecutive quarters in India.

 

 

Longjam Dineshwori

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