Xiaomi Chairman and CEO Lei Jun gave an update on Aug. 16 covering several major announcements regarding Xiaomi’s development in the next decade through his WeChat account, including upgrading its core strategy to “mobile × AIoT.”
Lei emphasized that Xiaomi’s smartphone business has been the company’s most important core business in the past decade. He added that smartphones will still be the most powerful personal mobile computing device, the control center that accompanies users the longest time with the most frequent interactions, and the largest electronic equipment in the market in the foreseeable future.
“Smartphones are the core business directly related to the success or failure of our business and the cornerstone of our business model,” Lei said. “It is vital to conquer the battlefield of the smartphone market.”
According to Lei, AIOT business will focus on the core business of mobile phones to construct a smart life, and become an amplifier of the company’s value.
With the further integration of intelligent interconnection, the company’s core strategy of “Mobile Phone X AIoT” will put more emphasis on the multiplier effect, Lei said, adding that the core business of mobile phones and the AloT are no longer simple additions nor juxtapositions, but an equation that can cause mass-energy conversion.
“The AIoT business will become a catalyst and accelerant for the mobile phone business, penetrating more scenarios, attracting more users, obtaining massive amounts of traffic and data, and will become the moat of Xiaomi’s business model,” Lei said.
Except for the announcement of its next-decade core strategy, Lei said Xiaomi will implement a partnership system and a new ten-year entrepreneurship plan.
Xiaomi will expand the number of team partners from five to nine, Lei added. The four newly joined partners include the current president of Xiaomi Group Wang Xiang, Senior VP, and president of international Chew Shou Zi, Group VP, and chief of staff Zhang Feng, and Group VP and general manager Lu Weibing.
Besides the partnership system, Xiaomi will also select 100 young employees who align with Xiaomi’s mission, vision, and values, and have outstanding achievements in core positions. The company will give them similar rewards they would have given to early-stage entrepreneurs, and encourage them to be entrepreneurial and devout to the company, Lei said on his public WeChat account.