On December 22, The Paper learned from insiders at Xiaomi that founding member Lei Jun had written an internal letter announcing that Wang Xiang, the company’s president at the time, will take a long-anticipated retirement on December 30 of this year. Continue to work for the business as a senior consultant at the same time. The changes in Xiaomi management will take place very soon, by the start of the new year.

The company’s co-founders, Hong Feng and Wang Chuan will continue to support and promote the company’s strategic development in the partner committee despite their withdrawal from the commercial front at the end of this year. According to the reporters, it was determined to promote Lu Weibing as the new group president after thorough consideration and conversation with the company’s partner committee; he will take office on December 30. 

Weibing and I have been friends for a long time; he has extensive knowledge of the mobile phone sector and a strong network inside it. He was dependable and well-known when he joined Xiaomi at the beginning of 2019. Weibing gradually gained control of the group management team, rising through the ranks to become the person in charge of the Redmi brand, the president of the Chinese region, and the commander of the three main theatres in the Chinese region, the International Department, and the Indian region. Excellent esteem and regard. Reporters wrote in the articles.

The news stories that were released today are historic for Xiaomi. In an internal message, it was further claimed that this demonstrated Xiaomi’s management had completed the transition smoothly and was prepared for long-term sustainable growth. The Xiaomi Group is about to enter a new arena. The high-end strategy has just delivered a phased solution book for the Xiaomi 13 series after three years of investigation. Unexpectedly, the smart electric car industry has advanced, and it has high hopes for a smooth transition to mass production in the first half of 2024. The group’s overall technological system is also expanding; numerous innovations are continuously emerging; the humanoid bionic robot CyberOne “iron-to-large” and other frontier explorations are still progressing, and the intelligent manufacturing system is continuously exporting to the entire manufacturing industry everlasting empowerment

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(Source)

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The economic impact of the global chip shortage that has persisted for several months since 2020 could soon be felt directly by phone users as phone makers continue to grapple with the challenge of increased smartphone production costs. The chip shortage mainly affected the automotive industry at the early stages. It led to the shutdown of some production plants in the US and other places.

A few months back, some governments took steps to stimulate production, but it is clear that these moves are yet to yield the desired results as chipmakers continue to grapple with increasing demands. Now it seems that phone makers are now gradually feeling the impact of the shortage as production costs continue to climb.

Xiaomi’s president Wang Xiang said that his company has been grappling with increased production costs due to the shortage of semiconductors needed for smartphones. There was every likelihood that the increased production cost would lead to higher prices of several of its forthcoming smartphones. Xiang made the comments during Xiaomi’s fourth-quarter 2020 earnings call (via) and also stressed that Xiaomi would continue to offer competitive prices as it seeks ways of optimizing its production processes.

Some chipmakers have announced plans for expansion in capacity but the impact on global chip supply may not become apparent until after two years due to the intricate and complex processes involved in chip production. But generally, chipmakers have been struggling to meet supply backlogs from a variety of customers across the spectrum. Some industry watchers have predicted that the present global shortage may persist until the end of the year, with the attendant inflationary impact on consumers.

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Xiaomi already sees some sale from the U.S, having partnered with Amazon.com where some of its products are on offers such as the Mi A1, the company’s only Android One smartphone and the Android TV Box. However, a full entrance into the U.S market is not possible without a partnership with one of the four major U.S carriers. That is because most of the annual phone sales in the U.S are usually sold by the carriers. A previous rumour which emerged several weeks back had hinted that Xiaomi was in negotiation with Verizon and AT&T over such a deal several months back but its large-scale U.S. plans remain unrealized.

The chances that Xiaomi will make headway in this regard are pretty slim considering the difficult Huawei is facing in its bid to enter the market. Huawei’s effort is facing rejection by the U.S authorities who feared user data can get compromised by the Chinese government. Fellow Chinese firm ZTE is also facing the same issue with its products including its telecommunications equipment. But then, Xiaomi may just be lucky.

Read Also: Xiaomi Redmi Note 5 Pro May Become Project Treble Compatible With Latest Android 8.1 Oreo Update

Apart from that the Chinese tech giant is also reportedly planning to launch its IPO get which could help its bid to enter the market. Wang Xiang may have confirmed such rumours when he hinted that the company is gathering resources. Xiaomi is said to be planning a $100 billion valuation which could make it the largest tech float of 2018. The recent report also claims the company may likely use Hong Kong as its IPO host and file to have its shares listed on the public market in the second half of the year.

(source)

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