Yesterday, Xiaomi Group stated in its performance report that the company intends to acquire 50.09% of ZMI’s shares at a total price of $205 million. Prior to this, Xiaomi Group already held 49.91% of ZMI’s equity. After the closing, ZMI will become a wholly-owned subsidiary of Xiaomi Group.
In Xiaomi’s announcement, Xiaomi’s directors believe that ZMI’s technology and R&D capabilities in power supply and multiple IoT fields can improve Xiaomi’s technical competitiveness in the smart field. Moreover, they can achieve product power standardization to save costs.
In addition, ZMI also has excellent industry resources and operating experience. So, it can simultaneously coordinate and enhance the competitiveness of the company’s future ecological chain products.
Also read: In 2020, Xiaomi Smartphone Shipments Reached 146.4 Million Units
According to the official website of ZMI, Jiangsu ZMI Electronic Technology Co., Ltd. was established in 2012. The company became a member of the Xiaomi industrial ecological chain in 2013. It was responsible for the research and development of Xiaomi mobile power supplies and related accessories. On the other hand, Zhang Feng, the founder of ZMI, later served as a partner and vice president of Xiaomi Group.
In addition, from 2014 to 2018, the cumulative sales of Xiaomi’s mobile power supply exceeded 100 million units. ZMI’s own brand ZMI is faithful to high-end smartphone accessories. It includes chargers, wireless chargers, data cables, smart home appliances, and many other products.