Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 16 September 2021, 15:16 HKT/SGT
Huisen and Xiaomi Formed A Strategic Cooperation to Develop Smart Home Business

HONG KONG, Sept 16, 2021 - (ACN Newswire) - According to industry sources, Huisen Household International (02127.HK) has formed a strategic partnership with Xiaomi Group (01810.HK) to jointly develop smart home business in various application scenarios, including office, hotel, apartment, elderly care institutions, educational institutions, and households, etc.

According to the sources, Huisen will develop a smart furniture plan to combine with Xiaomi's IoT platform in terms of product development and marketing, and both parties will jointly carry out business partnership of smart pre-renovation (providing smart home solutions before the actual renovation) and smart renovation. Meanwhile, Huisen's smart furniture products will be showcased in Xiaomi Smart Life Experience Pavilion.

This partnership demonstrates Huisen's prosperous expectations of its smart home business. Huisen's interim financial results reveal that the company will strive to gain insight from market trends and make timely adjustments to the business strategy to expand its business coverage, including research and development investments in smart home products to accelerate company's growth.

Market expects that the partnership with Xiaomi will be a new driver of its revenue. As one of the renowned household brands with the highest consumer awareness, Xiaomi has developed a strong advantage in the field of smart home. As of June 30, 2021, the number of smart devices connected to the Mi IoT platform reached 375 million, a year-on-year increase of 34%. In June 2021, the monthly active users of AI assistant, Xiaomi's version of voice intelligent assistant, exceeded the 100 million mark for the first time, reaching 102 million. The monthly active users of "Xiaomi Home" App increased to 56.5 million, a year-on-year increase of 38.6%, making it the world's largest consumer IoT intelligent internet platform.

A research report from Guotai Junan Securities that addresses, the medium to long-term outlook, smart home is another intelligent smart scenario besides smart vehicles. At present, the market penetration rate of smart home is about 10%, implying a transition of the smart home industry from the leading-in stage to the growth stage. It is expected that the breaking out period will come soon, with an expected market size exceeding RMB 1.3 trillion.

The concept of smart home comprises a wide range of products and services. Market participants in the industry have their niche advantages and may eventually differentiate into specialized aggregations. "Smart Home Products + Operational System and Ecosystem + Customized Solution" is the key model of smart home, where manufacturers provide smart products, technology/Internet companies develop operating systems, and system integrators provide customized smart home solutions.

Based on the above model and the analysis of the partnership, Huisen will focus on the development of smart products and personalized solutions. Huisen Group intends to establish a R&D centre in Dongguan city, Guangdong province, which will have in-house research, design, testing, and an exhibition hall to display the functional and smart home products. Furthermore, the R&D centre will carry out in-depth partnership with colleges and universities, such as Jiangxi University of Science and Technology, Jiangxi Institute of Environmental Engineering to enhance and integrate the innovation mechanism of business and academic research.

As the largest panel furniture exporter in China, Huisen is one of the long-term major suppliers of Fortune 500 Retail Groups, including Walmart and The Home Depot. Its core competence rely on the vertical integration of the supply chain management; including R&D, manufacture, quality control, diversified sales channels, and competitive market prices, which were accomplished by its experienced management team with sophisticated industry know how. Meanwhile, Huisen Group has implemented the ESG management concept, and its zero-formaldehyde and negative oxygen ion products are aligned with the strict international standards.

An analysis points out that panel furniture is favored by the new generation of consumers for its advantages such as easy assemble and disassemble, rich in designs, flexibility in size, and cost-effectiveness. These characteristics resonate with the genes of Xiaomi's product lifestyle, a relentless pursuit of quality and value. Xiaomi and Huisen intend to build a new scenario of whole-house intelligence, which is expected to further fire up the market's imagination and anticipation of Huisen Group's the future endeavor.

Topic: Press release summary Sectors: Daily Finance
From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
Cloud Experts to Bring to Light the Potential of Cloud Solutions at Trescon's World Cloud Show - Egypt  
Oct 25, 2021 14:13 HKT/SGT
SMEStreet Global Women Leadership Awards 2021 Successfully Conducted   
Oct 25, 2021 12:19 HKT/SGT
Blockchain & Infrastructure Post-Event Release  
Oct 25, 2021 10:36 HKT/SGT
Substantial Strides for Kristof Schoffling's Blockchain Consultancy Move Digital in 2021  
Oct 25, 2021 09:00 HKT/SGT
Seedify Taps Blockpass for KYC Provision in Blockchain Gaming & NFTs  
Oct 25, 2021 09:00 HKT/SGT
Announcing the HUMAN grants program: $10 million to fund the next wave of HUMAN solutions  
Oct 25, 2021 09:00 HKT/SGT
Space Vikings LLC is Disrupting the $500+ BILLION Beer Industry  
Oct 25, 2021 09:00 HKT/SGT
Brawijaya University develops IoT-based system for melon cultivation  
Oct 23, 2021 20:00 HKT/SGT
XanPool, Payments Infrastructure Builder, Secures US$27M to Consolidate Presence in APAC and Expand Service Offerings  
Oct 22, 2021 20:00 HKT/SGT
New Carriages for AGT System in Hiroshima Win "GOOD DESIGN AWARD 2021"  
Oct 22, 2021 17:14 HKT/SGT
More Press release >>
More >>
 News Alerts
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: