Xiaomi’s five-year plan is a $1.5 billion bet on smart homes

Xiaomi, the Chinese company best known for budget phones, is betting big on a future of connected homes. It plans to plough at least 10 billion yuan, or $1.48 billion, into the so-called “AIoT” sector over the next five years, founder and chief operating officer Lei Jun announced on Friday. AIoT, short for “AI + … Continue reading Xiaomi’s five-year plan is a $1.5 billion bet on smart homes