Xiaomi Philosophy EP01 Discussion Recap
For the first episode of Xiaomi Philosophy, we start with how Lei Jun started his business, from the initial team of six people, Xiaomi gradually developed and grew. There are three key development nodes, and finally formed their core businesses of hardware + new retail + Internet services.
In the discussion last Friday, there were mainly three questions mentioned. First, we gave a short introduction of Leijun. According to Forbes, he is ranked 17th on China Rich List 2020 and the 36th on Richest In Tech 2017. We all know that he is the co-founder and chairman of Xiaomi. He is also an investor in software firm Kingsoft and in JOYY Inc., a Nasdaq-listed social media platform that was known until December 2019 as YY.com. He also founded Shunwei Capital which is a premier venture capital firm specializing in early to growth stage investments in disruptive business models. They invest in mobile Internet, Internet+, consumer IoT, smart manufacturing, deep technology and rural Internet.
Mr. Wong Kai Cheong said "I like the part about him spending 80 % of his time doing talent search and recruitment. This shows how important human capital is for a successful startup." The battle for talent is the main theme of business competition in the 21st century. This is also the reason why Leijun values this very much.
The next question we focused on is Xiaomi's eco-chian products layout. Mr. Ianton Tan's company, Mowin Digital is now working with one of Xiaomi's eco-chain company "Knowin" for their local sales on ecommerce and planning to integrate our conversational AI to localize their tech for the region. He thinks "it will be integral to the appliances industry whoever owns the OS that will dominate".
Besides, Mr. Lacostar whose company is tech-focused and interested in mobile phone introduced another brand "Transsion" to us. He said, "Yes, at the moment Transsion has the highest market share in Africa and posses a strong strength of future growth except some confounding variables arising from local Africa model." Mr. Chintan Oza shared a file about Mobile brands of different countries.
On Tuesday, the EP.02, "Breaking boundaries, Xiaomi's ecological chain layout" will elaborate on how Xiaomi breaks the product boundary to build its own ecological chain. Today's discussion is now over. Stay tuned with Business Innovation Lab, we'll be upload EP.02 and EP.03 next Tuesday and next Thursday. We will also be discussing with you in the group next Friday at 20:00 Beijing Time. You are welcome to join us!
And don't forget to listen to our EP.01！