Interview with Xiaomi-s CEO

CNC
Added On August 9, 2017

Chinese tech giant Xiaomi has grown to be present in over 40 countries and regions. In many of them, it is the market leader. 
 
The company has emphasized the importance of new retail to Xiaomi's strategy, with a total of 149 Mi Home stores now open across China.
 
In an exclusive interview with CNC, Xiaomi chairman and CEO Lei Jun said 
Xiaomi's global business had crossed into an era of rapid growth.
 
SOUNDBITE (CHINESE): LEI JUN,  Xiaomi chairman and CEO
"Our mission is to promote the transformation and upgrading of Chinese manufacturing. We changed the mobile phone industry. For five years, the domestic mobile phone industry has made rapid progress. Not only Xiaomi, but now at least several of our peers have developed. I think it's our pride. For the money of inferior products, everyone can now buy more high quality products, and people feel more happy. I advise them to think 'Buy better spend less'."
 
In the second quarter of this year, Xiaomi shipped 23 million smartphones, up 70 percent compared with the first quarter.
 
SOUNDBITE (CHINESE): LEI JUN,  Xiaomi chairman and CEO
"Mobile phone is a low frequency consumption. Even in High income groups, they annually buy one mobile phone. Ordinary people change their phones once every two years. Going to the store only twice a year will leave a high promotion cost. So the subtlety of Xiaomi is to make a combination of 30 low-frequency consumer products for individuals and families. Then, the consumer has the interest to buy something in our store every time."
 
Lei attributed the rebound in smartphone sales to enhanced investment in research and development, integration of online and offline retail as well as growing overseas expansion.
 
He said Xiaomi plans to hire thousands of research and development professionals for its smartphone business in the next 12 months and further bolster its innovation capabilities.