According to the latest news, Xiaomi group has acquired Zimi, a company that makes smartphone accessories. Previously, Xiaomi used to back Zimi, now, with this move, it wholly owns Zimi. Xiaomi Group announced in its performance announcement that the company is acquiring the remaining 50.09 percent stake in Zimi. This acquisition is valued at $205 million. With this move, Zimi is now a wholly-owned subsidiary of Xiaomi.
Zimi was established in 2012 as Jiangsu Zimi Electronic Technology Co., Ltd., and in 2013, it became a member of the Xioami industrial ecology chain. Zimi is responsible for the development of Xiaomi mobile power supplies. Zhang Feng, the founder of Zimi, has later served the Xiaomi group as a Partner and Vice President.
Making the announcement, Xiaomi said that it believes Zimi’s research and development capabilities in the power supply and multiple IoT fields can improve Xiaomi’s technical competitiveness in the smart field. This would help the company to achieve product power standardization to save costs.
From 2014 and 2018, the cumulative sales of Xiaomi’s mobile power supply exceeded 100 million units. On the other hand, Zimi has its own lineup, ZMI. Zimi said it is committed to high-end smartphone accessories including chargers, wireless chargers, data cables, smart home appliances, and much more.