Lei Jun, Founder, Chairman and CEO of Xiaomi has revealed a few important announcements in an open letter regarding Xiaomi’s next decade in technology after celebrating its 10th anniversary.
Xiaomi’s upgraded core strategy: Smartphone x AIoT
“From the very beginning, the dream has been to make the world’s best phones and sell them at half the price, so that everyone can afford them. Over the past decade, the smartphone business has been our core. In the foreseeable future, as a personal smart device with the single most significant market size, smartphones will continue to serve as a personal mobile computing hub for everyone. It is a control center with which everyone frequently interacts, and an accompaniment that stays with everyone. Smartphones are critical to our success, and is a cornerstone for our business model,” shares Lei Jun.
As intelligent connectivity becomes more integrated into our lives, Xiaomi’s ‘Smartphone x AIoT’ core strategy will reap synergistic benefits. The relationship between its core smartphone business and AIoT ecosystem will be mutually beneficial, bringing about symbiotic changes beyond incremental benefits, and expand into more application scenarios – winning the hearts of more users, and eventually creating economic moats for its business model. This will truly let everyone in the world enjoy a better life through technology, making Xiaomi truly lead the future way of living.
Three guiding principles
In Lei Jun’s speech delivered in commemoration of the company’s 10th anniversary last week, he highlighted that Xiaomi will resolutely stick to three guiding principles:
- We will never cease to explore and innovate, and bring everyone the most innovative technologies.
- We will continue to offer products with the best price-to-performance ratio.
- We will seek to make the coolest products.
“We firmly believe that no matter what, the pursuit of technological innovations will always be the prerequisite for Xiaomi’s competitiveness; offering amazing products at accessible and honest prices is an evergreen strategy throughout economic cycles; and making the coolest products is inherent to our engineering culture. These three principles guarantee Xiaomi’s high quality growth ahead, and are our manifesto for the next decade,” Lei Jun continues.
Being a start-up once more, with a Partnership Program and the New Decade Entrepreneur Program
Since the beginning, Xiaomi has set up a start-up and partnership culture within its company. Over the past decade, the company has attracted a lot of talents, resulting in a diligent and highly capable start-up team, energizing its fast growth with remarkable achievements along the way.
Commenting on this initiative, Lei Jun said, “In the upcoming decade, we will once more become a start-up, and continuously replenish our talent pool to form strong teams. With this strong ownership and sense of dedication, we will pass down our engineering culture, our core values of sincerity and passion, and our keys to success in the internet era — Dedication, Perfectionism, Word-of-mouth and Agility. These talents will also be leading Xiaomi to explore other uncharted areas, and renew the company’s drive to carry our dreams into the future.”
As a result, Lei Jun has announced the expanding of Xiaomi’s partner team to include those excellent colleagues with a strong sense of duty, a great sense of responsibility, unbeatable track records and performance, and a high recognition of Xiaomi’s culture and core values, to share benefits and shoulder risks together.
They are Mr. Wang Xiang, President of Xiaomi Group, Mr. Chew Shou Zi, Senior Vice President of Xiaomi Group, and President of International, Mr. Zhang Feng, Vice President of Xiaomi Group, Chief of Staff, and Chairman of the Group Procurement Committee and Mr. Lu Weibing, Vice President of Xiaomi Group, President of China Business, and General Manager of Redmi.
Besides the Partnership Program, Xiaomi has also started the New Decade Entrepreneur Program. A total of 100 highly capable and best-performing colleagues who represent Xiaomi’s mission, visions and core values will be selected and rewarded with an early entrepreneur package, an incentive aimed at encouraging them to dedicate themselves with an entrepreneurial spirit and bring the company to new levels in the upcoming decade.
“We have to be consistent in introducing, spotting and nurturing new talents to form a capable, ambitious, empowered, and responsible team, laying the foundation for our continuous growth. We will offer all levels of talents the freedom to grow and the rewards to match, so that every colleague can live up to their full potential. Over the next decade, we are sure that Xiaomi’s successful journey ahead will be due to our new wave of talents.”
Read the full open letter by Lei Jun here.