Midea (SHE:000333, HKG:0300) Chairman and President Fang Hongbo said the company will defend its slice of the market amid Xiaomi's (HKG:1810) foray into the sector, Yicai Global reported Tuesday.
"Every single business Midea is in, Xiaomi has now entered," Yicai quoted Fang as saying.
Xiaomi's entry into the home appliance market is something Midea should tackle proactively, the report said, citing Fang.
Midea is adding higher value-added products but will also need to go down and engage actively in the market, Yicai said, citing Fang.
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