Xiaomi's Lei Jun envisions the Internet future

By He Shan
0 Comment(s)Print E-mail China.org.cn, March 7, 2014
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Lei Jun, China's famous startup investor, founder of Xiaomi Tech and a National People's Congress (NPC) deputy, spoke to journalists on the sidelines of the ongoing second session of the 12th NPC about his insights in Internet usage and the steps his company will take in the coming year.

Lei Jun, China's famous startup investor, founder of Xiaomi Tech and NPC deputy, speaks to journalists at the ongoing Two Sessions.

The man dubbed the "Steve Jobs of China" urged the government to better understand the importance of "big data," a term for a collection of data, and use them as a device to govern society.

Lei said the usage of big data is the trend of the next online generation, but much attention should be paid to user privacy.

His remark came shortly after the latest government initiative was announced to establish the Central Internet Security and Informatization Leading Group headed by President Xi Jinping as to turn China into a cyber power.

Lei's Xiaomi Tech, founded only four years ago, has rapidly grown from a start-up smartphone company to a big market player with its market value now standing around US$10 billion.

His savvy marketing strategy has made its smartphones a smash hit, including the Hongmi and M2. The top task of Xiaomi Tech this year, he said, is to increase production to meet demand.

He added Xiaomi Tech has no plans to seek IPO within the next five years, and predicted that the company will make more than 16 billion yuan in revenue over the next year.

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