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Xiaomi Sews up Deals for Smart Homes

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Xiaomi Sews up Deals for Smart Homes 16 BUSINESS Thursday, November 29, 2018 CHINA DAILY HONG KONG EDITION Xiaomi sews Shenzhen firms hike investment up deals for in R&D sector By ZHOU MO in Shenzhen, Guangdong smart homes [email protected] 20 percent of Shenzhen­registered list­ Tech tie­ups with Ikea, Microsoft and Nearly 20 percent of ed companies devoted more Shenzhen­registered listed than 10 percent of their iKongjian ‘to create better life for people’ companies devoted more operating revenue to R&D than 10 percent of their oper­ By OUYANG SHIJIA shortly after Ikea, the world’s ating revenue to research ouyangshijia@ largest furniture retailer, said and development last year, a chinadaily.com.cn last week that it would acceler­ level on par with globally ate its transformation to fully leading high­tech enterpris­ the sector that took the lead. Chinese technology giant embrace new technologies and es like Google and Apple, Of the 10 listed companies Xiaomi Corp announced on offer better user experiences. according to a report. with the biggest R&D invest­ Wednesday it has teamed up Bjorn Block, business leader In all, 256 companies cov­ ment, eight were IT compa­ with Sweden’s furniture titan for Ikea’s Home Smart divi­ Lei Jun, founder and CEO of Xiaomi Corp, delivers a speech on Wednesday during the MIDC Xiaomi ered in the Shenzhen­regis­ nies. Ikea to offer smart home prod­ sion, told during the confer­ AIoT Developer Conference in Beijing. PROVIDED TO CHINA DAILY tered Listed Companies The R&D investment of ucts. ence that the new partnership Development Report dis­ Tencent Holdings Ltd, the The tie­up is part of its larg­ marked a key step in creating a closed their R&D spending world’s largest game maker er efforts to expand into the seamless experience for cus­ partnership would benefit home renovation service plat­ in their 2017 annual reports. and second biggest social booming sectors of artificial tomers and making smart both sides. form iKongjian to offer smart Between them, the compa­ media firm by revenue, and intelligence and the internet homes possible for many more 132 million “Driven by Xiaomi’s prag­ lighting services and solu­ nies spent approximately telecom equipment maker of things (IoT). people across the globe. matic concerns, the coopera­ tions. 77.75 billion yuan ($11.19 bil­ ZTE Corporation amounted “Xiaomi and Ikea share a “By staying curious about number of smart devices tion will enable much more Xiaomi also announced lion) on R&D, up 24.8 per­ to over 10 billion yuan, similar mission to create bet­ new technologies and digital connected to Xiaomi’s IoT international IoT connec­ cooperation with Microsoft to cent year­on­year. respectively. ter life for people, and the solutions, we hope to continue platform, excluding smart­ tions,” Yan said. offer smart voice solutions. Their average R&D inten­ As of the end of 2017, the global partnership will help the great victory in everyday phones and PCs “Currently, Ikea is at the key Under the partnership, users sity — the ratio of R&D number of Shenzhen­regis­ accelerate the development of lives for many more people stage of transformation, step­ will be able to use Xiaomi’s spending to operating reve­ tered listed companies had the world’s smart home indus­ here in China and also on a ping up the efforts to enhance XiaoAi to call the name of Mic­ nue — was 3.95 percent, up reached 367, with a market try,” said Fan Dian, general global scale,” Block said. the e­commerce experience rosoft’s chat robot Xiaobing 0.24 percentage points year­ capitalization amounting to manager of the IoT platform “We set out on a mission to and service offerings as well as and then will be able to enjoy on­year, the report said. nearly 10.3 trillion yuan. segment of Xiaomi. create smart products for IoT platform. Consumers will investing in offline stores. And Xiaobing’s service. A total of 45 listed compa­ In 2017 alone, 46 Shenz­ He made the remarks at the many people, really making be able to use Xiaomi’s smart the new move will help both Founded in 2010, Beijing­ nies, or 17.6 percent, poured hen enterprises made their ongoing MIDC Xiaomi AIoT them affordable and also easy voice assistant XiaoAi and the sides to expand the global based Xiaomi said it has estab­ more than 10 percent of their initial public offerings in Developer Conference in Bei­ to understand. In order to suc­ Mijia mobile app to control market.” lished the world’s largest operating revenue into R&D domestic and international jing, which opened on ceed, we need to cooperate.” Ikea’s smart lighting products. During the conference, consumer IoT platform, with in 2017. capital markets. Wednesday and will close on Starting from December, James Yan, research direct­ Xiaomi also unveiled a new more than 132 million smart The report, published in Information technology Thursday. Ikea’s smart lighting products or at Counterpoint Technology partnership with Huazhu devices powered by AI, exclud­ Shenzhen on Tuesday, was and finance were the two Xiaomi’s partnership came will be connected to Xiaomi’s Market Research, said the new Hotels Group’s Ji Hotel and ing smartphones and PCs. jointly compiled by the Shenz­ sectors with the largest mar­ hen­based think tank China ket capitalization, combin­ Development Institute and ing to make up over 70 Hongxin Securities. percent of the total. Researchers based their “This shows Shenzhen’s Younger generation flocking to buy insurance online findings on 27 indicators in economic growth is driven four main areas — scale, by technology and finance,” By CHENG YU ers of online insurance. online insurance,” he said. ance accessible to everyone, Liu cent of users of WeSure can get development potential, busi­ Yu said. [email protected] Among those surveyed, 80 WeSure was set up in 2017 to said that the platform has low­ their compensation within a ness capacity and social con­ In 2017, Shenzhen­regis­ percent of online insurance supplement Tencent’s efforts in ered the price as much as possi­ day,” he added. tribution. tered listed companies gener­ Online insurance is gaining applicants were born in the the insurance sector. Since ble. Applicants pay a minimum In terms of the future, Liu “The figures show that ated approximately 4.07 popularity in China, driven by 1980s and 1990s, and more then, it has been fueling innova­ of 5 yuan (70 cent) per month to said that the platform will lev­ Shenzhen­registered listed trillion yuan in operating rev­ an increasing number of than a third, 36.4 percent, tion in the traditional insurance buy insurance topping 500,000 erage more AI power in busi­ companies are making great enue, growing 20.8 percent young people looking to cover were aged under 24. sector with its technology, prod­ yuan. nesses including the efforts on enhancing their from a year earlier. themselves using quick, low­ Liu Jiaming, executive ucts and services. “During this process, tech­ settlement of claims, where AI innovative capability,” said Of the total 367 Shenzhen­ cost, social media­powered director and CEO of WeSure, By the end of November, nology is an important part of can help deal with complicat­ Yu Lingqu, a researcher from registered listed companies, apps, according to a new noted that young consumers WeSure had become Wechat’s business — epitomized by the ed claim requires and new CDI. the report covered 341. The industry report. grew up with the internet and most popular insurance mini fact that 70 percent of custom­ claim recommendations. “A 10 percent R&D intensi­ rest were excluded either The survey by WeSure, an so would be more comfortable program — a program that er service is provided by artifi­ “We will develop more sce­ ty means they are on the same because their stocks were online insurance portal backed with shopping online. runs inside the Wechat app — cial intelligence,” said Liu. narios in online insurance. We level as technology giants suspended from trading for by tech conglomerate Tencent “Young people will be the with 20 million active users “Such a technology­orient­ hope to more people using such as Google and Apple.” a long time, or they had not Holdings Ltd, finds young peo­ future driving force as they per month. ed process drives efficiency to more interesting means,” add­ According to the report, published their annual ple have become the main buy­ have a greater awareness of With an aim of making insur­ a great extent. Up to 80 per­ ed Liu. information technology was reports by the end of June. Daily Stock Market Performance GainersGainers and andLosers Losers International Stock Markets Daily YTD Daily Daily Daily YTD % Chg Index Close % Chg % Chg GAINERS Close % Chg LOSERS Close % Chg Close % Chg –15% 0% +15% Shanghai Stock Exchange Composite Index 2601.74 +1.1 –21.3 Shanghai Stock Exchange Hang Seng Index 26,682.56 1.3 3600 Jishi Media Co Ltd 2.39 10.14 ShanghaiDazhongPubUtls 5.55 –10.05 Hang Seng China Ent Index 10,634.71 1.1 GuizhBrdcst&TVInfNtwrk 7.10 10.08 BeihGfrMrnBlgclIndstry 4.76 –10.02 TAIEX Taiwan Stock Index 9,884.31 1.1 3200 Ningbo Bird Co Ltd 3.94 10.06 Shanghai Xinhua Media 6.36 –9.92 Nikkei 225 22,177.02 1.0 ShaanxBrdcst&TVNtwrkIn 6.57 10.05 Jiangsu Holly Corp 9.80 –9.09 Sensex 35,710.84 0.6 2800 ARTS Group Co Ltd 11.50 10.05 Tianjin Hi-Tech Dev 5.46 –8.39 KOSPI 2,108.22 0.4 Hainan Haiqi Trans 8.00 10.04 Kangmei Pharmaceutical 10.97 –7.82 S&P/ASX 200 5,725.08 –0.1 2400 BeijingGehuaCATVNetwrk 9.87 10.03 ZhejiangSanweiRubbrItm 20.00 –7.45 New Zealand 50 Gross Index 8,713.96 0.5 GuangdongChampionAsiEl 19.14 10.00 Beijing Bashi
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