Xiaomi introduces 'Mi Ecosystem' sub-brand; launches Mi Induction Heating Pressure Rice Cooker

Xiaomi announced a new Mi Ecosystem sub-brand today and the first product under the brand is the Mi Induction Heating Pressure Rice Cooker which is priced at RMB 999 (approximately Rs 10,200). It is said to be 40 percent the price of comparable high-end Japanese induction heating pressure rice cookers. In terms of features, the Mi Induction heating pressure rice cooker is a WiFi-enabled smart gadget that can be controlled via the Mi Home app. Users can scan their pack of rice to identify the type of rice, brand and origin, and based on that, the rice cooker can adjust its heating methodology to suit the type of rice. It currently supports more than 200 brands of rice, and the company says that this will be expanded in the future. Users can also set their personal preferences within the app.  The app comes with other recipes that can be used with this Mi induction cooker, including brown rice, crispy rice and even cakes. Users don’t need to figure out the method for cooking these items but instead, they can set it through the app too. The Mi induction cooker also uses electromagnetic heating technology for thermal efficiency and to offer an even distribution of heat while cooking. To build the Mi Ecosystem, Xiaomi has so far reportedly invested in 55 companies that design and manufacture products beyond its three core product categories which include smartphones, smart TVs and smart routers. Among these, 29 companies including Zhimi (which makes the Mi Air Purifier) and Viomi (which makes the Mi Water Purifier) have been incubated by Xiaomi.  The company stated in a press release that Xiaomi founder and CEO Lei Jun started exploring the ecosystem business model two years ago with a mindset to “promote an upgrade in Chinese manufacturing with a new concept of ‘Made in China’ products.”