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The NextMarket Report — Midea

Chinese Companies Betting Big on Smart Kitchen

Mike Wolf Alibaba China Midea Smart Kitchen TenCent Xiaomi

It appears China has woken up to the smart kitchen.  Midea, one of the largest makers of rice cookers in the Chinese market (40% market share), is working with Xiaomi to create a Wi-Fi connected rice cooker. The deal, which had Midea selling $55 million worth of shares to Xiaomi, looks to be only the beginning for Midea, who has indicated they're also working on HomeKit and WeChat (TenCent) integrated air conditioners. High-end Chinese appliance maker Robam has developed its own connected appliance line called ROKI, which includes a range hood and gas stove.  The appliances include access to recipes and instructions, adjust...

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