At the 4th Chu Business Conference held yesterday, Lei Jun delivered a speech. He said that only 9 years after Xiaomi was founded, last year’s R&D investment reached 5.8 billion yuan ($0.83 billion). What’s more interesting, this year’s investment amount will exceed 7 billion yuan ($1 billion). Xiaomi is going to invest over 10 billion yuan ($1.43 billion) in research and development next year. In addition, he also said that insisting on investment means investing in the future. Only, innovation can promote Xiaomi’s progress.
Also Read: Xiaomi Group Rose Nearly 4% – Hits A Record High Since July
Apart from this, we have learned that Xiaomi’s international business revenue has reached 48% in the third quarter of 2019, and will soon exceed 50%. It seems that Xiaomi has really established a foothold in the international market. And though there is a lot of room for development, it is not far from becoming a global enterprise.
Gizchina News of the week
This makes us pay attention to Lei Jun’s success. After all, not everyone has the ability to build large enterprises in a short time.
In fact, Xiaomi has entered the market with cost-effective smartphones. In time, it was a synonym to cheap-but-good smartphones. But everything changes. And because of those changes, the manufacturer has had to separate its Redmi brand in order to free itself from the fetter. Recently, Lei Jun said Xiaomi is a tech company with a focus on smartphones. But in fact, this manufacturer is designing products for all niches. Although we have to say most of them come our way from its sub-brands. Those companies don’t belong to Xiaomi. But the latter invests a lot in their activity. In this sense, Xiaomi runs a wiser strategy and there is every reason to think it will become a global enterprise in the coming years.