On November 2nd, the global lighting leading brand Philips Lighting (Amsterdam Euronext: LIGHT) and China's Internet leader Xiaomi signed an agreement in Beijing to form a new joint venture to jointly promote the development of smart connected home lighting in China. The newly formed joint venture company will design and develop smart connected LED lighting products for Xiaomi's smart home ecosystem, enabling intelligent control of lighting for applications in Android (Android) and Apple (iOS) smartphones.
Continuing the successful cooperation between the two parties on a variety of smart connected LED lighting products, the products developed by the new joint venture company will still be sold through the Xiaomi retail channel. The new joint venture company was established by Philips Lighting and Xiaomi with a 70% and 30% stake.
“It is a win-win situation to combine Xiaomi’s highly acclaimed smart home ecosystem and online marketing strategy with Philips Lighting’s superior smart connected lighting technology,†said Wang Wei, President of Philips Lighting Greater China. “In the future In the coming months, we will gradually provide more users with leading-edge, high-performance smart connected LED lighting products to users of the Xiaomi Smart Home Ecosystem."
“Philips Lighting is a global leader in lighting and has a history of more than 100 years. Xiaomi has the largest intelligent family ecosystem in China with the most extensive product categories and the largest number of users,†Xiaomi co-founder and vice president, Xiaomi Mr. Liu De, the person in charge of the eco-chain, said, “Through this cooperation, Xiaomi will work with Philips Lighting to leverage the advantages of both parties in their respective fields to provide users with the most intelligent lighting product experience.â€
The joint venture will further expand the territory of both smart connected lighting and smart home ecosystems in China.
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