Xiaomi is one of the fastest growing companies in recent years. Unlike Huawei, the Chinese manufacturer is not subject to the US veto, which has allowed it to gain market share.
Lei Jun, founder and CEO of Xiaomi, has spoken recently about the Chinese company and has cleared up three fairly widespread misconceptions about Xiaomi.
Xiaomi is not a company focused on the low-end
According to Jun, most people consider Xiaomi’s products to be all low-end products. This is probably because it is a Chinese brand and the average price of its smartphones are usually cheaper than those of other manufacturers.
To correct this misconception, Jun states that the company started manufacturing high-end products starting with the Mi 10 Extreme Commemorative Edition. Lei Jun says the phone is one of the best sellers this year despite its price of 7,000 yuan (6,000 euros).
Their 98-inch smart TV was also launched with a price tag of 20,000 yuan (2,570 euros), which has been very popular.
Xiaomi does not manufacture its phones
The second mistake is that Xiaomi products are all manufactured by the third party. Lei Jun clarifies that the company has designed the manufacturing model, which is a very advanced production model.
It has also revealed that the company has set out to establish itself strongly in the manufacturing industry. The company commissioned the most sophisticated intelligent production line in China that is almost fully automated.
The smart factory located in Yizhuang, Beijing can produce 10 million high-end smartphones a year and has only 100 employees, including engineers. The interesting thing about the factory is that almost all the equipment has been developed by Xiaomi or by a company that Xiaomi has invested in.
Xiaomi does not have its own technology
The third misconception is that Xiaomi does not have its own technology. Lei Jun did not respond directly but spoke of the growth of Xiaomi’s business in the last 10 years.
In 2011, Xiaomi’s revenues were only 500 million, and in 2019 they have reached 205,800 million, ranking 422 on the Fortune Global 500 list. Xiaomi competes in the most competitive market in the world. Jun points out that achieving such growth would be impossible without technology as a foundation.
The camera technology It is an example that the CEO uses to silence those who claim that the brand does not have its own technology. Jun indicates that Xiaomi made the decision to lead camera technology four years ago, that is, in 2016, when Xiaomi’s mobile phone business established a camera department.
When it was first established, there were only 122 engineers in the camera department. Today, the number of engineers in the camera department has reached 826, an increase of almost 6 times. This does not include the more than 350 engineers who provide technical support for cameras in areas such as AI.
Lei Jun also indicates that the company has established its camera R&D centers in cities around the world where it recognizes that there is talent. As a result, various Xiaomi devices reached the top spot in the DXOMark ranking with rave reviews.
The CEO also spoke of the brand charging technology, including your GaN charging adapter. Although this is a minor product, the speed with which Xiaomi has started making cheap GaN adapters shows its determination to help more people adopt leading technology solutions.