Sunday, 2024 July 21

Xiaomi investment hints at further entry into home appliances

A new financial filing by Hooeasy, an electric clothing dryer manufacturer, lists Xiaomi has a shareholder, with Hooeasy’s total registered capital set at more than RMB 4.4 billion (USD 640 million).

Zhejiang-based Hooeasy produces a line of smart electric dryers and clothes hangers. One of its key selling points is the implementation of German technology and design across its electric dryer products.

As a clothes dryer original equipment manufacturer (OEM), Hooeasy could support the diversification of Xiaomi’s home product offerings.

The hardware giant, best known for its smartphones, already sells a wide range of home appliances in China, from heaters to air conditioners, lamps and fans and vacuum cleaners, kitchenware and utensils, water purifiers, and its famous air purifiers.

Xiaomi also sells washing machines currently, but clothing dryer machines remain a notable omission.


Related Read