|"We embrace a culture of bold innovation by pushing the boundaries of what technology can offer. The spirit of innovation permeates our company and relentlessly guides our pursuit of building amazing products."‑ Mark Li, country manager, Xiaomi Vietnam |
At the beginning of 2020, Xiaomi announced that it will invest at least ¥50 billion ($7.2 billion) on 5G, AI, and the Internet of Things (IoT) over the next five years as the phone maker is trying to maintain healthy business growth.
Accordingly, Xiaomi fine-tuned its overarching strategy from “Smartphone + AIoT” to “5G + AI + IoT and next-generation super internet” to double down its lead in the field.
5G is not solely about creating faster smartphone network. “5G + AIoT” represents Xiaomi’s ability to offer services across its comprehensive product line. It gives Xiaomi the chance to offer unique and pioneering AIoT user cases.
This strategy perfectly fits the company’s internet DNA to ensure its role in this new smart era.
Xiaomi CFO Shou Zi Chew said that Xiaomi invested $1.3 billion in research and development (R&D) between the fourth quarter of 2019 and third quarter of 2020. This reflects the company’s efforts to push forward its new strategy as a two-core growth engine. The sum is estimated to exceed its rivals’ investment in the R&D competition.
As a result, Xiaomi, for the first time, made it to the Fortune Global 500 list in 2020, nine years after its iteration. Xiaomi is also the youngest company on this year’s list, a proud achievement that it will keep in mind and bring new level in its global expansion journey.
Last year, Xiaomi also became the third-largest mobile phone manufacturer in the world. By the third quarter of 2020, the number of connected devices in Xiaomi’s AIoT ecosystem (excluding smartphones and laptops) had reached 289 million, making it one of the world’s largest consumer-grade IoT platforms.
In February, Xiaomi has been selected as one of Clarivate Analytics’ annual global top 100 innovators for three consecutive years. Xiaomi relies on the rapid commercialisation of innovations through its “hardware + new retail + internet” model that it has followed since the day it was founded.
Mark Li, the country’s new manager of Xiaomi Vietnam said, “This result is part of our mission of letting everyone in the world enjoy a better life through technological innovation, something that has been widely recognised by our Mi Fans and users in over 90 markets around the world where we are present.”
“At this company, we embrace a culture of bold innovation by pushing the boundaries of what technology can offer. The spirit of innovation permeates our company and relentlessly guiding our pursuit of building amazing products, while bringing down the barrier of innovative technologies,” he added.
With an emphasis on its innovative capability, Xiaomi recently launched its latest product, the Mi 11, with many first and latest features in the market.
The Mi 11 is Xiaomi’s first product after one year of heavy investment in R&D activities, it is expected to give its Mi Fans and other users an all-round flagship device with reasonable pricing.
On February 25, Xiaomi released the much-anticipated Mi 11 in Vietnam. As Xiaomi’s first premium phone in the new decade, the Mi 11 offers ground-breaking innovations in performance, display, entertainment, and setting various records.
Li noted that the Mi 11 is the first smartphone to use Qualcomm’s newly-showcased Snapdragon 888 processor. The phone offers breakthrough performance with superior power efficiency and AI capabilities.
In addition, Mi 11 is equipped with a 108MP 8K main camera, which is the largest of its kind. Meanwhile, its 5MP macro camera has the highest resolution camera in its class.
Mi 11 also features its industry’s top quality displays with a 6.81-inch E4 AMOLED screen. With one of the best screens on the market, the Mi 11 has received an A+ rating from DisplayMate, the world’s leading professional display review institution.
Above all, the Mi 11 is one of the first smartphones in Vietnam to support dual 5G standby. This, coupled with a powerful AI chipset, is expected to make a breakthrough in the phone market this year.