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Chinese handset maker Xiaomi invests over $200M in home appliances maker Midea

Monday, December 15, 2014 | More »

Chinese smartphone manufacturer Xiaomi, which also has a good presence in India, has invested 1.26 billion yuan (over $200 million) in Midea Group, an electrical appliance manufacturer in China, for a 1.29 per cent stake in the firm. The deal will allow both companies to cooperate in smart home init...