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Will wearable technology take off in China? Xiaomi clearly thinks so.
After launching its own ultra-cheap, $13 fitness wristband just months ago, China’s largest smartphone company Xiaomi has invested in Misfit Wearables, a California-based wearable technology company that has designed the sleek-looking, all-metal activities tracker “Shine.”
Chinese investors have committed to investing $6 billion in U.S. technology companies in the first quarter of 2014, a significant jump from the previous four years when annual investment topped $1 billion. This is however Xiaomi’s first U.S. deal, trailing Alibaba and Tencent in investments of American start-ups...
China sees wearable potential.