Xiaomi’s Phase 2 Smart Factory Expected to Produce 10 Million High-End Mobile Phones Per Year

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(Source: Sina)

At the opening ceremony of the Global Digital Economy Conference on August 2, Lei Jun, founder, chairman and CEO of Xiaomi, said that the second phase of Xiaomi’s Smart Factory is expected to be put into operation by the end of 2023, with an annual output of 10 million high-end smart phones and an annual output value of 50-60 billion yuan.

The Phase 2 Xiaomi Smart Factory took only 84 days to complete all of the necessary approval processes. The first phase of the factory was put into operation early last year, with a fully automated production line that can produce 1 million high-end smartphones every year, and its annual output is estimated to be about 5-6 billion yuan, covering an area of about 15,000 square meters.

After being selected as a Fortune Global 500 company in 2019, Xiaomi was listed again this year, ranking 338th. According to IDC’s latest report, Xiaomi’s global share of smartphones surpassed Apple for the first time this year and now sits in second place in the world.

SEE ALSO: Xiaomi Surpasses Apple to Become World’s No.2 in Smartphone Shipments for Q2 2021

Lei Jun said that digital economy helps enterprises reduce costs and improve efficiency, and that the company’s 11-year lifespan is an exploration of the digital economy. In the next decade, the digital economy will serve as the core new driving force of development, bolstering the rise of Chinese enterprises in the global market.

In his view, Beijing will become a crucial centerpoint for the world’s digital economy. Beijing is fostering an integrated innovation ecosystem with a multi-level collaborative innovation system of organizations, talent, technology and capital. In the ICT field, the number of unicorns in Beijing ranks first in the world, and only AI enterprises account for 28% the country’s total.

Lei Jun also gave three suggestions for the development of digital economy including focusing on breakthrough in core technology components, attaching great importance to the cultivation of innovative individuals, and creating an innovative environment where failure is tolerated.