Lei Jun told about progress of Xiaomi

Lei Jun : Firstly, Xiaomi is willing at all costs to produce a good product . Our time has come to the era where we need to fullfill the demand of consumers. The quality of a product is a main ruler for consumer to determine whether the brand is good or bad. I think we are different compared to other companies in China because we emphasized that we should produce a good product regardless of the costs. Three years ago, we selected Qualcommm as our phone processor and the most expensive Sharp's screen.

We are thankful as our company was founded in the era where e-commerce started to grow. Through e-commerce, the entire cost of all retail channels can be reduced. If we open a shop online, users can buy anything from there and the cost we need is very low to complete the entire sales process.

Secondly, we want to thank the social media era. Xiaomi was founded five years ago, with the growth of Weibo and Wechat gave Xiaomi a great opportunity. When your product is good and cheap, the news can be spread very fast. Everyone will advertise on behalf of us. In 2012 ,we earned 12.6 billion in the first year and in 2013 years we earned 32.6 billion, and  74.3 billion yuan last year. Therefore I estimate that we would hit our 100 billion target this year. I believe we are the fastest-growing company with those data provided.

The third point is the timing we founded Xiaomi was the year where smartphones started to conquer the world. 3 years ago, Motorola was sold to Google but Lenovo has recently acquired Motorola, Nokia announced that they they have to give up in this competitive smartphone market. Xiaomi entered in a right timing with the aid of Internet marketting, high specs with low price and thus created an explosive respond and supports from customers.

China has become the world biggest producer after revolution. There are alof of famous brand factories housed in China. Xiaomi is involved in the electronics field and majority of the goods in global manufactured in China. China has the advantage compared to other countries around the world. I believe in the future this advantage will become more and more obvious. So we started to focus on the hardware. We can do as good as international brand products of the same quality or even better.

In smart home industry, Xiaomi core strategy is to connect the phone with other house appliances. We hope in 10 to 20 years, a large number of domestic enterprises can bring to the world and became the first in the world in various fields. So I believe that one day Xiaomi will be like Sony in 1970s which led the entire Japanese manufacturers, Samsung in 1980s, 1990s which affect the entire Korea industry.

I think in 10 years time China will lead various fields in the world. We do not just want to produce good products but we all want the whole world to know who we are. That is why last year we started to enter global market and entered 7 countries and region.

This is what I talk about the future of a Xiaomi development plans and goals.