Xiaomi Expands AIoT Partnership into Home, Hotel and Automobile Services

When you hear the word Xiaomi, what comes to mind? If you can only think of phones, you have fallen behind!

The Chinese electronics giant announced partnerships with the leading furniture retailer IKEA, Chinese business hotel chain Ji Hotel, Microsoft and a Chinese smart electric car company Chehejia, which marked its expansion in providing intelligent services with the Internet of Things (IoT).

“I want to stress that Xiaomi values its partners very much,” said Xiaomi founder Lei Jun, “We were the first to enter the AI+loT (AIoT) realm. I believe we are the most devoted and have the greatest determination.”

Xiaomi is planting more and more consumption companies into its IoT to build its own Industrial Internet, according to PingWest. In the third season of 2018, IoT and home appliances business sector accounted for 21 percent of Xiaomi‘s revenues, only second to the smartphone sector.

“AI+IoT is Xiaomi‘s key strategy, which will last five to ten years,” said Lei Jun.

SEE ALSO: Lei Jun on Xiaomi’s Global Strategic Layout

The company started to lay out IoT in 2014, when they proposed to reduce the cost of connecting hardware. And they cut the price for WiFi modules from over 60 yuan ($8.6) to 9.99 yuan ($1.4) as Lei said.

The Xiaomi IoT supports almost 2000 kinds of devices and connects 132 million smart accessories.

Featured photo credit to leijunxiaomi