DATE: MAY 14 2024 / SOURCE: YICAI
(Yicai) May 14 -- Xiaomi and JD.Com have agreed on new strategic cooperation, with the Chinese electronics titan aiming to sell products worth CNY200 billion (USD27.6 billion) across the e-commerce giant's channels over the next three years.
Xiaomi and JD.Com will jointly advance sales growth of various Xiaomi smart hardware products, the Beijing-based online shopping platform announced yesterday.
The two firms will further their alliance in retail, logistics, science and technology, and finance while expanding their cooperation in industry development, health, insurance, and other areas to achieve a multi-industry, in-depth integration, and coordinated development and explore broader market growth space, JD.Com noted.
In retail, JD.Com will join hands with Xiaomi on categories including 3C (computers, communications, and consumer electronics) digital products, household products, home appliances, and autos for in-depth co-production to enable more Xiaomi products to enter millions of households.
The pair will increase resource inputs and online and offline interconnections in marketing. They will raise subsidy inputs in services based on JD.Com's special support measures for trade-in to co-build services products.
In channels, Xiaomi and JD.Com will bring consumers a better shopping experience by integrating over 20,000 JD.Com physical stores in China, including JD Mall, stores mainly selling 3C products, and home appliance outlets, with Xiaomi's more than 10,000 after-sales centers.
Regarding business procurement, JD.Com's corporate business will also ally with Xiaomi to expand business-level procurement markets. JD.Com will tap its logistics advantages to enhance Xiaomi's efficiency and cost-cutting efforts while optimizing service experiences.
The pair will continue to further their cooperation in tech services, application scenarios, and other aspects to increase consumer experience.
JD.Com and Xiaomi began to cooperate as early as 2015, with JD.Com becoming Xiaomi's strategy-level partner with the biggest sales scale worldwide. Last September, the tech firm became the first brand with over 100 million store followers on JD.Com.