Daily Management Review

Xiaomi to invest $ 1.46 billion in Internet of Things


Chinese smartphones manufacturer Xiaomi Corp. plans to invest more than 10 billion yuan ($ 1.46 billion) in the Internet of Things (IoT) technology over the next five years, reports Securities Daily.

Xiaomi has long been developing this strategy. At the end of last year, the company created another sales department, in addition to sales of telephones. The new department is responsible for sale of televisions and household appliances.

Xiaomi also recently invested in consumer electronics manufacturer TCL.

A source in the company, however, said that smartphones remain the main business of Xiaomi, and it is not planned to change it.

According to the source, Xiaomi will expand its presence in the overseas smartphone markets this year. At the same time, IoT equipment, in particular smart TVs, will start entering the world market and will be actively promoted.

Xiaomi seeks to diversify sources of income as demand for smartphones around the world weakens. At the same time, the company expects demand to recover with the advent of fifth-generation ultra-fast wireless communications.

The Chinese smartphone market, which remains the largest in the world, showed a strong decline in 2018, and a further decline is expected in 2019.

According to analysts at Canalys, shipments of smartphones to the PRC decreased by 12% last year, and in 2019 they will fall below 400 million units for the first time since 2014. This may lead to a fall in the global smartphone market by 1%, experts say.

source: bloomberg.com

Science & Technology

Nestle's Head: Veggie meat is new megatrend

Huawei may introduce Android replacement in August

Are US high-tech investors causing brain drain in Europe?

'Russia's Google' Yandex Was Hacked By Western Intelligence For Spying: Reuters

Reuters: Chinese hackers were stealing data from IT giants for years

China's first solar power molten salt plant sets record

WSJ announces imminent start of Boeing 737 MAX flight tests

Study: Machine learning is five times more harmful for the environment than a car

Would Singapore Be The First One To Bring Lab Grown Shrimps To The Global Market?

Apple Patents A ‘Foldable Screen’ For Creating Foldable iPhones

World Politics

World & Politics

France announces new tax for air fares

Europe Concerned Over Iran Move To Breach Uranium Enrichment Cap

Singapore To Build ‘$296 Million’ Smart Next-Gen Army Training Centre

No More Sales Of E-Cigarettes In San Francisco?

US ‘Hell-Bent On Hostile Acts’ Even After Trump-Kim Agreement, Says North Korea

Italy avoids EU sanctions for high national debt

Trump allocates 4.6 bln to help migrants

Iran Says Trump’s Belief That US-Iran War Would Be Short Is “An Illusion”