In a Q&A with Xiaomi fans, company CEO Lei Jun was asked how much money they will spend in research and development this year, and the top executive was glad to provide the numbers.
As per Lei Jun, Xiaomi spent a whopping USD10 billion (around Php480 billion) in R&D for 2020. If that’s not large enough, the CEO said that they even up that number this 2021.
The company revealed that they plan on increasing its research budget by 30% to 40%. With that, Xiaomi shall invest about USD13 billion to USD14 billion for this year.
Part of the budget will be allocated in the recruitment of new engineers.
As their main focus, Xiaomi expects to hire another 5,000 engineers this year. With that, expect to see more innovations from the company like the Waterfall display phone.
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Moreover, the CEO also revealed that the Xiaomi Mi MIX 4 might launch this year, as well as the long-overdue update to its tablet line, the Mi Pad 5.
He added that Xiaomi designs would be more creative this year with materials like ceramic to be more involved.