Xiaomi’s 5-year plan is a $1.5B bet on smart homes

techcrunch.com

The company is betting on what it calls AIoT, think AI means internet of things, IOT. One of the pillars is a smart furniture tie-in with Ikea. Xiaomi has previously gone after the smart home with investments in hardware companies and joint marketing, now it is looking to tie this ecosystem together. That's something it hasn't managed yet, and concern around its business has seen its share price slide. Last week, it lost a total of $6 billion in value over a three-day period.

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