Xiaomi focuses on Artificial Intelligence along with Internet of Things (IoT) as part of their core strategy for the coming years.
Chinese Electronics Company, Xiaomi, reveals their new strategy focusing not only on their huge marketing for smartphones, but as well as AI and IoT combined.
Known in the country as the biggest company investing on smartphones, mobile apps, laptops and other related consumer electronics, Xiaomi’s taking on greater heights after the decline in business sales.
Xiaomi is not a rookie when it comes to both AI and IoT. During the Annual Developer Conference held in Beijing last July 2018, Xiaomi CEO and founder, Lei Jun announces that the company’s core strategies would focus on two things: smartphones and AI+IoT for the next 5-10 years.
He states that “Xiaomi needs to be more open than ever and to connect more people and devices effectively”. During the company’s annual party last Friday, Jun pledged an investment of 10 billion yuan (USD1.5 billion) over the next five years for the second strategy they are adapting, along with their smartphone investments.
The company will also be continuing its global expansion, specifically on the European and Latin America markets after last year’s success on the third quarter of 2018.