"They have a product pipeline," Jenny Lee, Managing Partner at GGV Capital, told Bloomberg in a telephonic interview. "Going forward it's not just going to be the Xiaomi phone or the TV. The upside and the investment around Xiaomi is the hope they can get into the smart home."
Last month, the company made a move in the Internet of Things (IoT) sphere with the launch of Internet-connected Mi Air Purifier. The purifier was designed by a company called Zhimi, which Lei revealed was one of the 25 startups in which Xiaomi has invested.
Priced at CNY 899 (approximately Rs. 8,900), the Mi Air Purifier can connect to the user's smartphone and alert them if the filter has reached end-of-life and needs to be replaced. Xiaomi says that the air purifier can produce up to 406 cubic meters (14,000 cubic feet) of clean air per hour and sends pollution readings to connected smartphones.
As the report notes, the Chinese electronics company also recently started selling a light bulb designed by another startup called Yeelight. The colour of the light that the bulb emits can be changed by a remote."The smart home is a much bigger market," Lee said. "Homes are getting connected with phones, tablets and TVs in ways that are highly synergistic. Xiaomi definitely wants to be part of that. That is their key strategy."