Recently there is news that millet company on its acquisition of one of the total generation in South Korea Youmi company's equity, and Youmi signed a memorandum of understanding.
The memorandum indicates that both parties will complete the details of the specific investment conditions as soon as possible and formally sign the Equity Transfer Agreement (SPA) on part of the shares of Youmi Corporation, which will also formally become a subsidiary of Xiaomi Company and become the headquarter of South Korea Home is included in millet ecosystem business.
It is understood that the company formerly known as Yomiuri sales in the Korean millet brand of mobile power LK company was established in March 2015 and in the same time set up Nanjing Youmi Electronic Technology Co., Ltd., its headquarters in South Korea is located 20 km from Seoul Rice in Bucheon, Gyeonggi-do, Korea, and opened physical stores and an after-sales service center in seven cities in South Korea.
According to the company's publicity information in South Korea, the company has a capital of 510 million won and a sales volume of 17.5 billion won in 2016. Key personnel have previously been engaged in the online shopping flow and distribution service between China and South Korea and the United States, During this period, WizExpress system, which real-time reflected the product data of e-commerce platform, was developed. In 2014, the company obtained the proxy of millet company in Korea and imported and sold mobile power.
According to the contract, Youmi is responsible for selling a variety of millet ecological chain products including sports bracelet, mobile charging treasure, No. 9 balance car, air purifier and scales in Korea, but Xiaomi smart phones, TVs, and tablets And routers and other 4 core products are not in the sale.
You meters company official said that after the formal incorporation of Millet in the millet ecosystem, in 2018 plans to launch nearly 80 millet company in Korea's Internet of Things (IoT) products, and in South Korea to build smart home, artificial intelligence ecosystem, Committed to working with South Korean telecommunications companies and technology companies to cooperate.
In the past two years, Xiaomi has made a breakthrough in Korea with its 'cost performance.' According to INTERPARK's sales statistics in Korea online shopping website, millet, yellow sand masks, Turning Mecard toys, mobile phones and overseas direct sales were selected as the top five online sales in 2015 Topic.And in January 2015-mid-December 2015, millet mobile power and bracelet, respectively, occupy INTERPARK sales rankings first and third place.
According to South Korea's Polymer Battery Industry Association statistics, the current mobile power Xiaomi has occupied nearly 80% of Korea's charge treasure market share of millet in Korea, has become the "generation of mobile power" synonymous.
In fact, the industry is not surprised Xiaomi's acquisition of Youmi Inc. At the end of May this year, Xiaomi launched the Korean version of the official website with the website name of 'Mi Korea'. The millet Korean website introduces some smart hardware products and their products South Korea's official sales channels.In addition, the site also shows some details of the company, including founder profile and values and other information.However, the website does not display information on the Xiaomi phones and laptops.
South Korean media speculated that millet Korean version of the site surfaced, may mean that millet will be officially entered the Korean market.After the news that millet may be in Seoul, Korea to establish physical institutions in order to further contact those who like millet products and design of local consumption The acquisition of Youmi company, it is another example of millet deep plowing the Korean market.