The smartphone giant has already invested in 20 start-ups till date in order to boost up its products offerings through connected and smart devices. Some names include Ninebot, Misfit, Yeelight, and iHealth among others.
Last week, a Xiaomi-backed mobile equipment maker Ninebot took over its prime competitor Segway. This also reflects Xiaomi’s plans to rule the hardware and smart device market.
In December 2014, the company claimed a sale of over 1 million Mi brands and that too, in a span of three months. These brands were created by Xiaomi’s fitness wearable partner Huami, which also raised $35 million in the same month, from transactions led by Banyan Capitals, Sequoia Capital and Morningside Capital.
The Internet of Things has become an attraction point for a lot of such tech companies, but Xiaomi seems to be more antagonistic about it.