On the 10th anniversary of Xiaomi, Lei Jun officially admitted losing to Dong Mingzhu: it was inflated at that time

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 On the 10th anniversary of Xiaomi, Lei Jun officially admitted losing to Dong Mingzhu: it was inflated at that time


No. Because the probability of success is very low. Lei Jun did not have the slightest hesitation, replied.

Lei Jun said that Xiaomi has created miracles in the past ten years: Xiaomi was founded in 2010, with an estimated value of US $250 million; its four-year valuation exceeded US $45 billion, 180 times of its founding period, and became a super Unicorn; its mobile phone products won the first place in Chinas market in three years; it became the youngest Fortune 500 company in nine years, with revenue exceeding 200 billion in less than 10 years

This speed is unprecedented. Of course, in this process, millet is not plain sailing, it has also had a trough, also experienced the death spiral of the mobile phone industry, but it survived.

In the past ten years, Xiaomi has experienced the high light moment which is wildly sought after, and also bears the reputation of high matching and low price; under the pressure of popularity and controversy, millet has become a unique new species.

For the past decade, Lei Jun is most proud that Xiaomis business model has been fully verified, and Xiaomi has promoted the transformation and upgrading of Chinas manufacturing industry. Unfortunately, there is still a long way to go before making the best mobile phone.

In the new decade, Lei Jun should be cleared and set off again.

Highlight time

1. Chinas market share ranked first in 2014

Ten years ago, on April 6, at the Silver Valley Building in Zhongguancun, 13 old men with an average age of more than 40 years old started revolution and founded Xiaomi because of a bowl of millet porridge.

At this time, the global smartphone market, including apple and Samsung in the world, Huawei and Lenovo OV and other mobile phone manufacturers in China, is the most competitive industry in the world. In Lei Juns words, Xiaomi is knowing that there are tigers in the mountains, leaning towards the tiger mountain.

On August 16, 2011, Xiaomi generation 1 was released in Beijing 798. Lei Juns 96 page ppt exploded the rice noodles on the spot. At that time, Xiaomi was born for enthusiasts. Li Wanqiangs Participatory marketing of because of rice noodles, all millet has created the myth of rice noodle economy and pushed Xiaomi to the first place in Chinas smartphone market.

In the public speech of Lei Jun on Xiaomis 10th anniversary, the story behind Xiaomis highlight moment was revealed.

In the first year of Xiaomis establishment, Lei Jun, a mobile phone layman, spent more than 80% of his time looking for people. The first one was Lin bin, who worked in Google China Research Institute at that time. Lin bin was moved by the iron man of hardware + software + Internet and allowed him to join Xiaomi resolutely.

But the road to find people is not always as smooth as looking for Lin bin. Sometimes, Lei Jun will still be rejected after looking for someone two or three times. Therefore, Lei Jun came to the conclusion that looking for people is not a matter of looking for people three times and looking for people to look for people for 30 times..

In 2018, under the urging of the capital market, Xiaomi Hong Kong went public, becoming the largest IPO of that year.

At this time, millet has become a super market. In addition to mobile phone business, Xiaomi also has IOT and consumer goods, Internet services and others. Lei Jun said Xiaomi is not a pure hardware company, but an innovation driven Internet company.

In seven years, Xiaomis annual income has exceeded 100 billion yuan, which is beyond the reach of many traditional companies. Lei Jun mentioned a set of comparisons more than once: among the international technology giants with a revenue of over 100 billion yuan, apple spent 20 years, Facebook spent 12 years, Google spent 9 years, domestic technology companies, Ali used 17 years, Tencent 17 years, and Huawei used 21 years. Millet, on the other hand, has only been used for seven years.

This growth rate also confirms the success of Xiaomis original iron man three business model: Hardware + new retail + Internet service mode. Xiaomis new Triathlon evolved from the original software + hardware + Internet, which is one of the important reasons why Xiaomis No.2 employee Lin bin was able to leave Google China Research Institute.

At that time, Xiaomi invested or incubated more than 210 companies, including 90 companies focusing on developing intelligent hardware and consumer products to strengthen millet ecosystem. Xiaomi has also copied the successful model in China to overseas countries and regions, and has entered more than 74 countries and regions in the world.

310m bet: a successful marketing

At that time, Lei Jun said that if Xiaomis business income beat gree in five years, he hoped that Dong Mingzhu would pay him 1 yuan. Dong Mingzhu responded strongly on the spot: dont mention one yuan, but bet on one billion yuan.

Lei Jun revealed that sister Dong temporarily raised the gambling from 1 yuan to 1 billion yuan.

At that time, Xiaomi had just been established for three years. Although Xiaomi was a star company in the field of science and technology, its annual revenue was only 30 billion yuan, while Gree Electric Appliance had an annual revenue of 120 billion yuan. From the perspective of revenue comparison alone, the strength of the gap, but also because of this, gambling is more controversial and promising.

Although they were joking at that time, the netizens were serious. Every year since then, bets have been mentioned once a year.

Although in 2019, the two sides announced their total revenue in 2018: Gree RMB 200.24 billion and millet RMB 174.9 billion. Obviously, Dong Mingzhu won Lei Juns 1 billion bet five years ago. While admitting that he lost the bet, Lei Jun also reflected on the practice at that time, which was a bit inflated.

Gambling with Dong Mingzhu is a stupid thing Xiaomi has done on her way to entrepreneurship, Lei said.

But at this time, it seems that it is not very important who wins or loses. What is important is that both sides have improved their brands and their revenue has increased. And this bet, like an advertisement, has always been the talk material of netizens and the headlines of the media on the list.

Dark hour

1. The first big hurdle in 2016

Of course, Xiaomis development in this decade has not been smooth.

After Xiaomi made a comeback in 2017, Lei Jun once dug out this barrier and shared it with everyone without reservation.

After three or four years of high-speed development of more than 100% per year, Xiaomi had problems from 2015 to 2016: the sales of mobile phones dropped sharply; the shipment volume did not meet the expectations; the production capacity had problems; and the market value also shrank. For a time, the industry appeared millet model is challenged, online channel encountered bottlenecks and other comments.

Whats more, there is a death spiral in the mobile phone industry. If sales revenue and shipping volume come down, its hard to get up again.

At this time, the millet shipment has been a problem.

Therefore, Lei Jun returned to the front line and began to make up lessons. At that time, I made a great determination to study all the research and development processes of hardware, and I am very grateful for turning myself into a half expert or pseudo expert in the past two years. Lei Jun revealed.

It is also the model worker Lei Juns move to solve the difficulties encountered by millet, millet mobile phone began to rebound. Strategy analytics released the global smartphone manufacturers shipping volume and market share report in the second quarter of 2017. According to the report, millet shipped 23.2 million units, with a market share of 6.4%, returning to the top five in the world.

For this achievement, Lei Jun once said that Xiaomi is the only mobile phone manufacturer that can successfully reverse the sales decline. It is also because of this great challenge that Lei Jun firmly believes that innovation determines how high we fly, and quality determines how far we go.

However, although the sales volume of Xiaomi mobile phone has been reversed, the attempt to transform Xiaomi mobile phone brand to high-end has failed.

It is understood that in 2015 / 2016, Lei Jun found an expert team to diagnose the company, find problems and consider brand upgrading. Therefore, it weakened the concept of rice noodles and the slogan of living for enthusiasts and put forward the slogan of touching peoples hearts and being generous in price.

At the product level, Xiaomi released the top version of Xiaomi note in 2015, with the initial price of 3299 yuan. For Xiaomi, which has never exceeded 1999 yuan, this price has been sky high. However, the top version of Xiaomi note was reduced to 2999 yuan, and then to 2499 yuan, which declared the failure of the high-end road.

Although Xiaomi mix stood at 3000 yuan later, since mix1 was amazing, mix2 and 2S have mass produced concept machines; the sliding cover design of mix3 has suffered a great loss and no one is interested in it. Mix will stop working in 2019. This time, Lei Jun said in reply to netizens questions that a new generation of mix still needs a little time.

2. The stock price has been cut down in the first anniversary of listing

You know, at the beginning of Xiaomi listing, Lei Jun made a promise to all investors: to make the first batch of investors supporting Xiaomi earn at least twice.

Despite the fact that the stock price is not suck, millet has also adopted a corresponding stock repurchase program, but it has little effect on stimulating stock price growth.

Of course, this is related to the general environment of the stock market downturn. In addition, Xiaomis smartphone industry is increasingly competitive, and Xiaomi is facing the pain of high-end transformation.

At the beginning of 2019, Lei Jun even called out the cruel words of indifferent to life and death, do not accept it. It is also in 2019 that Xiaomis smart phone business has launched a dual brand strategy, and Hongmi brand has played the role of Xiaomi with high cost performance; and Xiaomi brand, according to Lei Juns idea, has gradually abandoned the shackles of price and moved closer to the high-end market.

Although the performance of Xiaomi mobile phone market in the first half of the year was not optimistic, it recovered in the fourth quarter, with a year-on-year growth of 27%, and the annual shipment volume was 125 million units, ranking the top four in the world.

Future: one of the most famous brands

In the new decade, Lei Jun has begun planning.

Not only that, Lei Jun also included Lu Weibing, former president of Jinli, Chang Cheng, former vice president of Lenovo Group, Wang Xiaoyan, CEO of Xiaojiao, Yang Zhe, former Meizu executive, and Zeng Xuezhong, former CEO of ZTE terminal.

Netizens think Lei Jun is organizing Avengers alliance. In this regard, Lei Jun said, they are super hero, a group of coolest people.

For the past decade, Lei Jun is most proud that Xiaomis business model has been fully verified, and Xiaomi has promoted the transformation and upgrading of Chinas manufacturing industry. Unfortunately, there is still a long way to go before making the best mobile phone. Lei Jun hopes that Xiaomi will become one of the most famous brands in the world ten years later. He hopes that people will no longer say that Lei Jun is a model worker because this platform belongs to young people. He hopes that there will be a large number of start-up companies because Xiaomi has been successful. Source of this article: state u2103, editor in charge: Ding Guangsheng_ NT1941

For the past decade, Lei Jun is most proud that Xiaomis business model has been fully verified, and Xiaomi has promoted the transformation and upgrading of Chinas manufacturing industry. Unfortunately, there is still a long way to go before making the best mobile phone.

Lei Jun hopes that Xiaomi will become one of the most famous brands in the world ten years later. He hopes that people will no longer say that Lei Jun is a model worker because this platform belongs to young people. He hopes that there will be a large number of start-up companies because Xiaomi has been successful.