China's Li Ning to team up with Xiaomi on 'smart' running shoes

China's Li Ning Co Ltd is teaming up with Chinese smartphone maker Xiaomi to produce a new generation of "smart" running shoes this year, in the sports brand's latest effort to revive its waning fortunes. Li Ning, backed by private equity powerhouse TPG Capital and Singapore wealth fund GIC, warned in January that it expects to post its third consecutive full-year loss, as it grapples with a restructuring, bloated inventories and slowing demand following the 2008 Olympics in