In recent years, Xiaomi has moved from a startup-like company and with its astonishing growth, has established itself among the greats in the world of technology; As the company is currently one of the most important players in the smartphone market and has expanded the scope of its activities to other sectors such as home appliances, wearables, robotics and ….
However, Xiaomi naturally needs to focus on R&D to maintain its position in the competition. Outside of China, Xiaomi is still thought to be the only brand to produce low-cost products, and the Chinese giant is well aware that it must change that view to compete with high-end or premium products. Research and development can be a turning point for better products and increase Xiaomi brand value outside China.
Given this possibility, Lee JoonXiaomi, chairman and founder, has announced that the company aims to invest 100 billion yuan (about 15 billion) in research and development over the next five years. It is interesting to know that Xiaomi had previously announced that by 2027, it will invest about 50 billion yuan in this sector; So Lee Joon’s words promise to double the budget for research and development.
The Chinese CEO also claims that 22 billion yuan has been invested in product research and development in the past two years, and that Xiaomi now has 16,000 engineers. He points out that all this is done to satisfy Xiaomi fans.
Overall, an example of the impact of investing in R&D can be seen in the CyberFocus and Image Brain technologies used in the Xiaomi 12 flagship, which promises to be a big step in tracking objects with the smartphone camera. It seems that Xiaomi will start competing with other companies in the coming years.