Millet listed Lei Jun issued an open letter: honest people will not be bad luck.

category:Internet
 Millet listed Lei Jun issued an open letter: honest people will not be bad luck.


The following is the full text of the open letter of the Lei Jun: Hello! Thank you for your attention and support to millet. When you open this document, you can see not only a company that is in a strong, ambitious, but also a new business blueprint supported by courage and trust. Here, I want to explain to you who is millet and why millet struggles. Millet is not simply a Hard Suits Inc, but an innovation driven Internet Co. Specifically, Xiaomi is a Internet Co with mobile phones, intelligent hardware and IoT platform as its core. Our mission is to always adhere to the good product of moving the heart and the price, so that everyone in the world can enjoy the beautiful life brought by technology. Every day in 8 years, the vision of making friends with users, being the coolest company in the heart of the user is driving our efforts to innovate, pursue the ultimate product and efficiency, and achieve a continuous development of the miracle of millet. When I set up millet in April 2010, my partner and I had only one simple idea: to make a smart phone that we liked and felt cool. Of the 8 co founders, 6 are engineers, and the other 2 are designers. They are enthusiastic fans of consumer electronics. Moving people, the price is good these eight words are two sides, inseparable as a whole, far exceeding the desired product of the user, but also to achieve a good price, can truly move people. Innovative technology and top design are the pursuit of millet gene. Our engineers are obsessed with exploring the technology and products that have never been tried by our predecessors. We believe that the courage to break the old rules and the belief in excellence is the key to win the appreciation and support of users. More than technology, we admire the bold and innovative culture. From the forward exploration of technology, screen and chip, more than 200 global design awards have been won in several years, from the iron man Triathlon business model to the ecological chain company cluster; from the user involved Internet development model to the millet line on the line of efficient new retail... The spirit of innovation has flourished in millet and penetrated into every corner, and we have been accelerating the pace of exploration. At present, we are the fourth largest smartphone manufacturer in the world, and have created many intelligent hardware products, among which sales of many categories are the first. We also built the worlds largest consumer IoT platform to connect more than 100 million smart devices. At the same time, we also have 190 million MIUI monthly active users, and provide them with a series of innovative Internet services. Its not the numbers that really make us proud. The face of a series of industries, such as Chinese smartphones and smart devices, has changed completely because of our emergence. We have promoted the rapid popularization and quality improvement of smart phones in China, laying a solid foundation for the rapid outbreak of China Mobiles Internet. The booming development of mobile payment, e-commerce, social networking, short video and other industries in China depends on the mobile Internets influx of hundreds of millions of huge population. Chinas largest market in the world, behind the development and maturity of the mobile Internet industry, we are also acknowledged to have made a lot of contributions. Good companies earn profits, and excellent companies win peoples hearts. What is more proud of us is that we are a rare high-tech company with fans culture. The enthusiastic users, known as rice flour, are all over the world, a huge number of people, and very loyal to our brand, and actively participate in the development and improvement of our products. The business model of millet is fully verified by the rebirth of the bath As a young Internet Co, the development of millet is not a smooth road. In 2016, our market share had slipped. We are soberly aware that there are still many foundations behind the rapid development in the past few years, so we take the initiative to slow down and make up for missed lessons. In 2017, Xiaomi successfully completed the three major supplementary courses of innovation + quality + delivery, and quickly returned to the forefront of the world. As far as we know, in addition to millet, no mobile phone company has successfully reversed its sales decline. After a long life, Xiaomi has gone through the necessary training of a company that can develop steadily for a long time. Our management is more orderly, our talent reserves are more substantial, our technology accumulates more, our supply chain capacity and capacity management ability are stronger. More importantly, our business model has been tested and fully verified. Millet is not simply a Hard Suits Inc, but an innovation driven Internet Co. Although hardware is our important user access, we do not expect it to be the main source of our profits. We put the best design, performance quality products close to the hardware cost pricing, direct delivery to the user through the new retail channels under the high efficiency online and direct supply, and then continue to provide rich Internet services for the users. This is our original Triathlon business mode: Hardware + new retail + Internet services. The achievement of millet so far illustrates the strong vitality of this model. In just 7 years, our annual revenue has exceeded 100 billion yuan. This growth rate is beyond the reach of many traditional companies. The improvement of efficiency comes from operating costs, especially when transaction costs are greatly reduced when delivering products to users. The unique business mode of millet makes goods both good and cheap, and creates the foundation of user trust. Always adhere to the overall net interest rate of hardware not exceeding 5% At the beginning of our founding, we had a great ambition to change the low efficiency in the business world. A $15 shirt sells for $150 in Chinese stores, with an astonishing 10 fold rate. A pair of shoes should be added 5 to 10 times, a tie plus 20 times. Millet has the courage and determination to push forward a profound business efficiency revolution. In early 2011, when millet came to the first annual meeting, I told more than 100 employees and their families around the company that we were going to make the best performance and experience smart phones, only $300 - the mainstream smartphone sold more than $600. Great companies are making things cheaper and cheaper. They concentrate their energies on making good products, so that every minute they pay is worth the money. Users are the core of all our business considerations. On the way of millet forward, we have been thinking: from ancient times to the present, the changes in the business world are numerous and varied, and what is always the same? This is the answer of millet. There are many of our users say, entering the millet home or to log in the millet business city, can be relieved to close your eyes to buy, because the quality, price is the best. This is our greatest affirmation and our ultimate pursuit. Moving the heart, the price is honest is not empty talk, these eight words are our values and spiritual beliefs. Here, I want to promise all the existing and potential users: from 2018 onwards, the overall net interest rate of the total hardware business of Xiaomi will not exceed 5% every year. If there is an excess, we will give feedback to users. Because, we always firmly believe, compared to the pursuit of one-time hardware sales profit, the pursuit of product experience more promising; compared to the channel layer after price, real material, pricing in the end more popular. We have always believed that our belief that the mass consumer goods should take the initiative to control reasonable profits will become an unstoppable trend of the times, and any move for high profit will go to a road of no return. So, I want to show you that we will pay more attention to the maintenance of long-term user value, the commercial value of millet and the value of your investment will also come from the constant enlargement of user value. The hardware comprehensive net interest rate will never exceed 5%, which is the efficient proof of millet. We know that the concept of millet will eventually become a common understanding of the society, but the time will be a friend of millet, we persist in persistence, continuous investment, resolute implementation will eventually come to the ideal realization. Today, millet has come to a historic important node. Facing the future, the global business ecosystem established by millet has a very bright prospect. What millet wants to build is not a closed commercial empire. Xiaomi is not only an innovative technology company, but also the founder and promoter of lifestyle in the digital age. Let everyone in the world enjoy the good life of science and technology, to achieve this goal, 1 millet is far from enough, 100 or even more millet, together to build a rich and prosperous new commercial ecology. Virtue is not lonely, must have neighbours, through the unique ecological chain model, millet investment, driven more like-minded entrepreneurs, around the mobile phone business to build mobile accessories, intelligent hardware, life and consumer products three layers of product matrix. Now, millet has invested in more than 90 ecological chain enterprises, changing hundreds of industries, and the number will be even bigger in the future. Such changes occur not only in China. Taking the smartphone business as an example, in the more than 70 national and regional markets that have already entered the world, we have already got the first share in India and are among the top of the 15 countries. We are and will continue to prove that the millet mode has universality in the world that can be replicated quickly. The establishment of a globalized open ecosystem will provide more opportunities for the long-term development of millet, a broader border and a more solid foundation. The era of large data and artificial intelligence is in front of us, and we believe that a large number of unique consumer and behavioral data generated by our global ecological platform can make us more sensitive and accurate to see the needs of the users and to win a great advantage for us in the future. Millet is a company dominated by engineers and culture. The dream of engineers is to continuously explore advanced technology and benefit as many users as possible. It is our vision to be the coolest company in the users mind. We firmly believe that the benefits of technological innovation and progress should be easily shared by the public. The essence of the spirit of the Internet is transparency, efficiency and equality. The greatest equality is nothing more than the equality of daily life experience: let everyone, no matter what color, what faith, where, and what education he or she is, can enjoy the good life of science and technology as easily as possible. This is the goal that I and my staff continue to struggle day and night. Thank you for your attention to Xiaomi, and join us in creating a new paradigm of business efficiency, using technology to improve the magnificent cause of human life. We have changed the lives of hundreds of millions of people, and we will be part of the lives of billions of people in the world. The thunder Army