Lei Jun has told the Chinese media that the smartphone producer intends to invest heavily in order to build out its internet of things product offering.
China-based smartphone manufacturer Xiaomi plans to invest in 100 more startups, chief executive Lei Jun has told Chinese newspaper the Southern Metropolis Daily.
Xiaomi has not formed a dedicated corporate venturing unit but has nevertheless funded more than 20 companies over the past two years, including data centre service provider 21Vianet, video content portal iQiyi, downloading technology company Xunlei and, most recently, personal transportation technology provider Ninebot.
Lei Jun said Xiaomi’s intent is to build the ecosystem…
