Following China’s annual shopping extravaganza “11.11”, Xiaomi CEO Lei Jun posted an article on Monday announcing that the total payment amount for Xiaomi products across all channels during the “11.11” event exceeded 22.4 billion yuan, setting a new record for the annual promotion. Additionally, Xiaomi was also the highest cumulative sales of domestic mobile phone brands on Tmall. It topped the list in terms of both cumulative sales and revenue of domestic mobile phone brands on JD.com as well. Sales at Xiaomi Home stores increased by 77% year-on-year, and Xiaomi‘s smart ecosystem topped 79 categories on both Tmall and JD.com.
Lei Jun expressed his gratitude for the consumer recognition of Xiaomi‘s newly released Hyper OS and Xiaomi 14, saying, “We feel very honored and grateful! We also promise that our R&D investment will exceed 100 billion yuan over the next five years!”
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Xiaomi‘s R&D investment was already impressive in the past years. According to the “2022 National Science and Technology Expenditure Statistics Bulletin” released by the Chinese government, the national R&D expenditure in 2022 was 3,078.29 billion yuan, and Xiaomi‘s R&D investment was 16.2 billion yuan, accounting for 0.53% of the national R&D investment.
In August, Xiaomi announced a technology strategy upgrade: deep cultivation of underlying technology, long-term continuous investment, deep integration of software and hardware, and comprehensive empowerment of AI.