Zimi, a smartphone accessories company backed by Xiaomi, is now wholly owned by the Chinese tech giant.
Xiaomi Group has announced the acquisition of a 50.09% stake in Zimi for $ 205 million. Prior to this, Xiaomi already owned 49.91% of Zimi’s shares, so now Zimi becomes a subsidiary of Xiaomi.
Xiaomi said Zimi technology as well as power supply research and development capabilities can enhance Xiaomi’s technical competitiveness in smart technology and save costs.
Zimi has its own ZMI product line, with the company saying it is committed to making high-quality smartphone accessories including chargers, wireless chargers, data cables and more.
Zimi was founded in 2012 as Jiangsu Zimi Electronic Technology Co., Ltd., and in 2013 joined a large list of companies supported by Xioami. Zimi has long been responsible for the development of Xiaomi power supplies and external batteries.
Zhang Feng, founder of Zimi, later became a partner and vice president of Xiaomi Group.