Wangxiang Li on market competition
From Xiaomi YU7 – SUV EV – Full Launch Event – English · · Daniel Carranza
“The SU7 is Xiai's first SUV and our first step into the automotive front lines. We will face the strongest rivals and the most brutal competition. But I remain confident because I believe in SU7's product strength. It's not a mediocre ordinary SUV. It's something truly unique.”
On , Wangxiang Li, Cofounder at Xiaomi, spoke about market competition during Xiaomi YU7 – SUV EV – Full Launch Event – English on Daniel Carranza.
About Wangxiang Li
Wang Xiang, President of Xiaomi, presented the company’s financial results in several earnings calls between 2020 and 2022. In the 2020 annual results, he reported total revenue of RMB 245.9 billion and an adjusted net profit of RMB 13 billion, and stated that global smartphone shipments reached 146 million units. In the Q3 2020 results, he said the company posted record high revenue and profit, with overseas market revenue reaching approximately RMB 40 billion, accounting for 55 percent of total revenue. In the Q3 2021 results, he noted that total revenue reached RMB 78.1 billion and adjusted net profit was RMB 5.2 billion, and that the number of connected IoT devices had surpassed 400 million. In a 2016 interview in Russia, Xiang described the Russian market as “very, very important” and said Xiaomi was working with local partners to establish service and channel presence. He stated that in the first 20 days of October 2016, Xiaomi shipped over 1 million phones to India. Xiang also articulated the company’s philosophy, saying, “Our slogan is ‘innovation for everyone’ — we want everyone to have the opportunity to enjoy the technology, so we will make the best product and make it affordable to as many people as possible.”