Xiaomi ex­pand­ing home-prod­ucts line

China Daily (Canada) - - NEWSCAPSULE -

Xiaomi Corp is work­ing on a wa­ter pu­ri­fier as it ex­pands its range of home prod­ucts that can be con­trolled through the In­ter­net.

The company has shown some back­ers a pro­to­type of the new pu­ri­fier, said Jenny Lee, man­ag­ing part­ner at GGV Cap­i­tal, an early in­vestor in China’s largest smart­phone ven­dor. Xiaomi spokes­woman Joy Han de­clined to com­ment on prod­ucts that have not been an­nounced.

Xiaomi said on Mon­day that its val­u­a­tion rose to $45 bil­lion, fol­low­ing a $1.1 bil­lion fund­ing round that in­cluded in­vestors such as bil­lion­aire Yuri Mil­ner’s DST, Sin­ga­pore’s GIC Pte and All­Stars In­vest­ment Ltd. Belief in Chief Ex­ec­u­tive Of­fi­cer Lei Jun’s abil­ity to push from smart­phones into home elec­tron­ics was one rea­son in­vestors val­ued the Beijing-based company so highly, Lee said. (Photo 5)

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