Lei Jun, CEO of major Chinese phone maker Xiaomi, stated on Wednesday that the company’s second smart factory will begin production in late 2023. A representative from the consumer electronics firm told TechNode that the firm began building the fully automated factory in Beijing’s suburban Changping district last July. Covering 58,300 square meters, the new factory is expected to have an annual output of 10 million smartphones, with an estimated production value of $60 billion. Xiaomi’s first smart factory is also located on the outskirts of Beijing, in Yizhuang, and began operating in 2019. [Xiaomi statement, in Chinese]
India has accused Chinese consumer electronics company Xiaomi of violating the country’s foreign exchange laws and moved to freeze INR 55.51 billion ($730 million) worth of Xiaomi India’s assets on April 27, Caixin reported on Monday. India’s announcement stated that Xiaomi India has transferred INR 55.51 billion to three entities under royalty payments since 2015. The announcement notes that Xiaomi did not receive any service from these entities. Xiaomi released an announcement on its social media accounts on Monday, claiming that “all our operations are firmly compliant with local laws and regulations.”
Intelligent Terminal Golden Seal Alliance (ITGSA), an alliance formed by Alibaba, Baidu, OPPO, Tencent, Vivo, and Xiaomi, announced on Thursday that it will push to drop support for 32-bit apps. The processing power of these apps is slower, older, and less secure, while newer 64-bit apps run faster and are the current mainstream choice for mobile devices. Beginning in April, Oppo, Vivo, and Xiaomi app stores will cease supporting all 32-bit apps, except for gaming apps. Google Play dropped 32-bit apps last year, while Apple began phasing out 32-bit apps with the launch of iOS 11 in 2017. [ITGSA]
BYD is making a play for a bigger share of the electric vehicle (EV) battery market, as local media reported on March 25 that Nio is currently testing BYD’s lithium-ion batteries for use in its electric crossovers, citing people familiar with the matter. Smartphone maker Xiaomi also recently reached an agreement with Fudi Battery, a spin-off of BYD, to test and validate its first car with the automaker’s so-called blade batteries, which boast less risk of overheating than cobalt batteries, according to the report. The companies declined to comment on the report. [36Kr, in Chinese]
Chinese smartphone maker Xiaomi released Q4 and 2021 earnings on Tuesday. Xiaomi smartphone shipments hit a new record, growing 30% year-over-year to 190.3 million units globally. Xiaomi’s 2021 revenue up 33.5% in a year to RMB 328.3 billion ($51.49 billion), while gross profit grew 58.5% to RMB 58.26 billion. The company earned RMB 85.58 billion in revenue in Q4 with a 29.4% quarterly growth. In addition, the company’s Internet of Things (IoT) and lifestyle products have also seen a 26.1% yearly increase. [Xiaomi press release]
Xiaomi has invested in AI Micron, a Shanghai-based semiconductor company that focuses on designing microchips specifically for in-car video transmission. It’s the latest bet by the smartphone giant on the country’s smart electric vehicle sector. The five-year-old chip developer has raised its registered capital by 13.3% to RMB 1.84 million ($291,600), with Hubei Xiaomi Changjiang Industrial Investment Fund, an investment firm formed by Xiaomi, being added as a shareholder, according to corporate data site Tianyancha. AI Micron is also backed by state-owned automaker BAIC. [PE Daily, in Chinese]
Chinese e-commerce SaaS platform Dianxiaomi has secured $100 million in Series C, according to a 36Kr report. Tiger Global Management and China Renaissance’s Huaxing Growth Capital co-led the round with participation from returning investors GGV Capital, CDH Venture and Growth Capital, and Gaorong Capital. The proceeds will reportedly be used for recruiting talent, upgrading the service system, R&D, and globalization. The Shenzhen-based company provides enterprise resource planning software to Chinese cross-border sellers, helping them to track shipment orders and inventories and to manage customer relations and accounting. Founded in 2014, the company now provides services to 120,000 merchants around the world with its annual transaction volume hitting over 300 billion RMB ($48 billion), according to its official website. [36Kr, in Chinese]
Leading automakers have been embracing high-voltage battery systems, a technology and a longer driving range.
Xiaomi India will partner with Shell to sell Xiaomi products at Shell gas stations, according to a release from Xiaomi India. The stations will sell Xiaomi accessories like smart bands, earbuds, and beard trimmers. Shell has more than 283 fuel stations in India. Xiaomi accounts for a 21% share of the Indian smartphone market, shipping 9.3 million units in Q4 2021, according to Canalys. [CRN India]
Xiaomi has hired Yu Liguo, a former senior executive at state-owned automaker BAIC Motor, to lead its autonomous electric vehicle project.