Emir BardakçıOn September 26, the just-concluded “Human, Car, and Home Full Ecosystem” Partner Conference, graced by Xiaomi, made some pretty ambitious statements into the future from Lu Weibing, Xiaomi Group Partner, President of the Mobile Phone Department, and General Manager of the Xiaomi Brand. Key announcements made during this event were serious investments into R&D, aggressive strategy targeting the high-end market, and records broken within the IoT ecosystem of Xiaomi.
Massive R&D Investments for Innovation
In this respect, Lu Weibing said the R&D investment of 2024 will hit an all-time high with an estimated value of 24 billion yuan. R&D investment is expected to keep increasing until it hits 30 billion yuan in 2025. It is expected that from 2022 to 2026, the cumulative R&D expenditure by Xiaomi would cross 100 billion yuan, showing its relentless drive to innovate in every element of its product ecosystem.
Targeting High-End Markets
Continuing its recent push into the premium sector, Xiaomi now estimates an upward revision in global sales of high-end mobile phones for 2024 by 43% year-over-year. With a strong foothold already achieved in the 4,000-6,000 yuan price category, what the company is targeting next is to go up the price ladder–above 6,000 yuan–and take head-on the battle with established global players in the premium segment.
Expanding IoT Leadership
In fact, other strong performance categories for Xiaomi include its IoT categories such as Smart Speakers, Smart door locks, and Smart Camera. Key ecosystem milestones abound:
- 860 million IoT connections worldwide, excluding mobile phones, tablets, and computers. – 686 million monthly active users of Xiaomi’s ecosystem in the world.
- Over 100 million monthly active users of the Mi Home App by September 2024.
Additionally, the code for the Xiaomi Vela system was opened and fitted into over 60 million smart devices, which is a positive step from Xiaomi toward solidifying this brand’s position in the global IoT ecosystem.
A Unified Vision of “Human, Car, and Home
From connected cars down to all-encompassing home solutions, the action of the ecosystem at XIAOMI spans well past the horizon of traditionally conventional intelligent devices. The “human-car-home” ecology presents a solution where man cannot live without his gadgets to be fully integrated in any aspect-personal, automobile, and housing-with easy applications.
As highlighted by Lu Weibing’s announcements during the Partner Conference, this only further underlines the brand’s determination to continue pushing innovations, increasing the high share of the market, and to keep leading the IoT sector onward. Multi-billion-dollar investments in R&D, one game-changing product plan, and a user base growing consistently-these are only some of the reasons why Xiaomi holds an upbeat outlook for pursuing its ambitious goals in 2024 and well into the future. Stay tuned for more as Xiaomi continues to push the envelope in smart technology.
