Midea and Xiaomi Are Going to Produce Smart Rice Cookers

Chinese Department of Securities approved the proposal by Xiaomi Tech to purchase 55 million shares of Midea Group to help with their strategy to create devices for smart homes.

Midea is a popular Chinese manufacturer of consumer electronics: air conditioners, vacuum cleaners, and other multicookers. Apart from Xiaomi, the company intends to cooperate with other Chinese corporations: Huawei, Alibaba Group, and Jingdong Mall.

As for the product — smart rice cooker is connected to a Wi-Fi, collects and analyzes information and provides personalized settings for each user. Also, this device is designed to solve problems of people with high blood sugar.

Rice cookers market in China will grow by 160% this year. Cooperation between two Chinese companies will undoubtedly accelerate development of devices for smart homes.

At present, in China for the best manufacturer of devices for smart homes are competing following companies: Alibaba, Qihoo 360 Technology, Letv, Xiaomi, Haier, TCL.

According to the survey, 87.5% of Chinese are dissatisfied with the current situation in the field of smart homes, and 95.2% expect new and fresh.