Xiaomi to acquire 100 tech start-ups

With an intention to scale the environment and establish a grip in the Internet of Things (IoT) space, the Chinese smartphone manufacturer, Xiaomi, plans to acquire 100 more technology start-ups in the near future.
Xiaomi to acquire 100 tech start-ups

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.

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