What happens when China’s top technology company partners with the leading sports apparel manufacturer in the country? You get a high-tech sportswear. Li Ning, the maker of athletic shoes worn by popular athletes including NBA superstar Dwayne Wade, has collaborated with Xiaomi, a growing technology company and dubbed as the Apple of the East.
According to Reuters, both companies will be working together to create a new line of “smart“ running shoes. Chips developed by Xiaomi will be placed on the soles of Li Ning’s running shoes. Xiaomi is also working on a mobile application that allows athletes to track their progress and achievements. Hence, the word “smart” shoes.
By teaming up with Xiaomi, Li Ning is hoping to revive its fortunes; the demand for its products are declining following the 2008 Olympics in Beijing. Investors including TPG Capital and GIC said that Li Ning is expected to post its third consecutive annual loss later this week.
"We have chosen to collaborate with the Mi band because of Huami Technology's strength in "smart" wearable products," Li Ning said in a statement on Monday. "We hope to use this opportunity to provide professional "smart" running shoes to running enthusiasts in China at an affordable price."
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