Xiaomi is looking to make huge moves in the future. Once renowned for smartphones only, the company is now aiming to control three giant markets: mobile phones, home appliances, and electric vehicles.
Xiaomi Targets Smartphone Lead and Appliance Power in China
Recently, Fan Hongbo, chairman of Midea Group, shared details about Xiaomi’s future plans. He said that Xiaomi President Lu Weibing visited Midea last year. During the visit, Lu gave a presentation about Xiaomi’s strategic goals.
Xiaomi will become the world’s top smartphone retailer within three years, Lu added. It also aims to be among the global top five carmakers within ten years. Xiaomi also intends to rank among China’s top three home appliance manufacturers within three years. Fan Hongbo commented that he was surprised at the presentation.
Xiaomi is already progressing in these areas. The company has already come out with smart home products and has electric vehicles in the works. It is also attempting to design its own chips, showing interest in more technological advancement.
Xiaomi Aims for Leadership in Smartphones, Appliances, and Cars
To invest in its goals, Xiaomi is heavily investing in research and development. Lei Jun, the CEO and founder of Xiaomi, made an announcement this week. According to him, the company will invest $28 billion in R&D in the period from 2026 to 2030. It will be used in creating new technologies like chips, AI, and smart devices.
Xiaomi believes that its hardware and software dominance will carry it to success in new markets. Its smartphone experience has already made it a design, manufacturing, and user experience leader. Today, the company is looking to take that knowledge in other directions for expansion.
The way ahead will not be smooth. Xiaomi faces tough competition from older brands in all markets it is venturing into. Even so, the company is hopeful. With huge investments and set goals, Xiaomi is ready to overcome new challenges and spread its presence in the global technology market.
