Xiaomi's appliance bet with Midea seen diluting its smartphone focus

Smartphone maker Xiaomi has become the new big spender in China's technology sector, with a 1.27 billion yuan (HK$1.6 billion) investment in Midea Group pushing it further along an acquisition trail blazed by internet giants Baidu, Alibaba Group and Tencent Holdings.

via South China Morning Post - Business feed http://ift.tt/1CqFo5T