皇冠体育app

Visitors view refrigerators of during the Appliance World Expo (AWE) 2014 in Shanghai, 皇冠体育app, 23 March 2014. [Photo/IC]

With new air purifier about to hit the market, Xiaomi is partnering with domestic appliance maker Midea to further its push into the smart-home market.

According to Midea's official account, Xiaomi will acquire 1.288 percent shares of , a Guangdong-based home appliance maker, for 1.266 billion yuan($204 million).

Midea registered nearly $19 billion in global turnover in 2013.

Last Saturday, Guangzhou Daily reported that Xiaomi CEO Lei Jun had reached an initial partnership ament with Midea's top executives, with Xiaomi likely to make an investment in Midea.

On Dec 9, Midea suspended its shares on the Shenzhen Stock Exchange, saying it was mulling over "a major announcement".

Midea has announced the resumption of market trading on Monday.

Related:

Xiaomi air purifier part of wider smart-home strategy

Xiaomi faces legal trouble in India

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