comscore Xiaomi co-founder Lei Jun reportedly steps down as China president
News

Xiaomi co-founder Lei Jun reportedly steps down as president of China market

Xiaomi co-founder Lei Jun is reportedly stepping down to focus on next year where the company plans to focus on mobile 5G and AIoT business.

  • Published: December 2, 2019 4:55 PM IST
xiaomi-ceo-lei-jun

Lei Jun, the Chairman and Co-founder of Xiaomi, has reportedly stepped down from his position as President of China operations. According to a report, the company notified its employees of major changes in leadership roles via an internal letter circulated last week. Jun’s responsibilities will now be handled by Lu Weibing, who is currently the head of Redmi, the spin-off brand from Xiaomi. The company has made other changes to the leadership roles as well. Also Read - Best Xiaomi Mi smart LED TVs to buy in India right now

Technode reports citing internal letter than former president Lin Bin has been promoted to company vice president. As part of leadership changes, the company has also promoted CFO Zhou Capital to president of international business. “Next year will be an offensive year for Xiaomi’s 5G business, and it will also be a key year for Xiaomi to promote mobile phone + AIoT,” Jun said in the letter. “We need more powerful group management support. It is necessary to continue the organizational innovation vitality brought by the cadre rotation mechanism,” he added. Also Read - Xiaomi Redmi K20 Pro emerges best selling smartphone in above $300 price segment: Canalys

Watch: Xiaomi MIUI 11 Features

During the third quarter of 2019, Xiaomi saw its smartphone shipments and market share decline from the same period last year. According to Canalys, Xiaomi shipped 32.5 million smartphones to achieve a market share of 9.2 percent. However, it’s market share contracted 3 percent on a year-on-year basis. Xiaomi saw decline in market share while Samsung, Huawei and Oppo registered positive growth in this quarter. The company’s third quarter results noted 7.8 percent year-on-year decline in smartphone business revenue. The company cites slowdown in the Chinese market as the cause for this decline in revenue. Also Read - Xiaomi Smart Electric Bed launched for around Rs 20,300: Check features

Since getting listed on the Hong Kong Stock Exchange last year, Xiaomi reported its slowest growth yet during the third quarter. It saw a growth of 5.5 percent year on year. While its margin from smartphone business remains small and declining in China, the company is looking for new avenues. It has transformed itself into a services-oriented company and has expanded into AIoT devices as well. The immediate challenge for new leadership will be to battle Huawei, Oppo and Vivo in its home market.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel.
  • Published Date: December 2, 2019 4:55 PM IST



new arrivals in india

OnePlus 8T
OnePlus 8T

42,999

Samsung Galaxy F41
Samsung Galaxy F41

15,499

Apple iPhone 12 Pro Max
Apple iPhone 12 Pro Max

1,29,900

Apple iPhone 12 Pro
Apple iPhone 12 Pro

1,19,900

Apple iPhone 12 Mini
Apple iPhone 12 Mini

69,900

Apple iPhone 12
Apple iPhone 12

79,900

Poco X3
Poco X3

16,999

Realme Narzo 20A
Realme Narzo 20A

8,499

Realme Narzo 20
Realme Narzo 20

10,499

Realme Narzo 20 Pro
Realme Narzo 20 Pro

14,999

Oppo F17
Oppo F17

17,990

Samsung Galaxy M51
Samsung Galaxy M51

24,999

Poco M2
Poco M2

10,999

Oppo F17 Pro
Oppo F17 Pro

22,990

Realme 7 Pro
Realme 7 Pro

19,999

Realme 7
Realme 7

14,999

Xiaomi Redmi 9A
Xiaomi Redmi 9A

6,799

Vivo Y20
Vivo Y20

12,990

Xiaomi Redmi 9
Xiaomi Redmi 9

8,999

Nokia 5.3
Nokia 5.3

13,999

Motorola Moto G9
Motorola Moto G9

11,499

Realme C15
Realme C15

9,999

Realme C12
Realme C12

8,999

Samsung Galaxy Note 20
Samsung Galaxy Note 20

77,999

Xiaomi Redmi 9 Prime
Xiaomi Redmi 9 Prime

9,999

Oppo Reno4 Pro
Oppo Reno4 Pro

34,990

Samsung Galaxy M01 Core
Samsung Galaxy M01 Core

5,499

Realme 6i
Realme 6i

12,999

Asus Rog Phone 3
Asus Rog Phone 3

49,999

OnePlus Nord
OnePlus Nord

24,999

Infinix Smart 4 Plus
Infinix Smart 4 Plus

7,999

Xiaomi Redmi Note 9
Xiaomi Redmi Note 9

11,999

Samsung Galaxy M01s
Samsung Galaxy M01s

9,999

Vivo X50 Pro 5G
Vivo X50 Pro 5G

49,990

Vivo X50 5G
Vivo X50 5G

34,990

Realme C11
Realme C11

7,499

Poco M2 Pro
Poco M2 Pro

13,999

Realme X3
Realme X3

24,999

Realme X3 SuperZoom
Realme X3 SuperZoom

27,999

Tecno Spark Power 2
Tecno Spark Power 2

9,999

Oppo A12
Oppo A12

9,990

Oppo A52
Oppo A52

16,990

Samsung Galaxy A21s
Samsung Galaxy A21s

15,999

Oppo Find X2
Oppo Find X2

64,990

Motorola One Fusion Plus
Motorola One Fusion Plus

17,499

Samsung Galaxy A31
Samsung Galaxy A31

20,999

Samsung Galaxy M01
Samsung Galaxy M01

8,999

Samsung Galaxy M11
Samsung Galaxy M11

10,999

Infinix Hot 9 Pro
Infinix Hot 9 Pro

9,999

LG Velvet
LG Velvet

Price Not Available

Xiaomi Mi Note 10 Lite
Xiaomi Mi Note 10 Lite

Price Not Available

Apple iPhone SE 2020
Apple iPhone SE 2020

42,500

Honor 30 Pro
Honor 30 Pro

Price Not Available

Honor 30
Honor 30

Price Not Available

OnePlus 8
OnePlus 8

44,999

OnePlus 8 Pro
OnePlus 8 Pro

54,999

Xiaomi Redmi Note 9 Pro
Xiaomi Redmi Note 9 Pro

13,999

Motorola Moto E4
Motorola Moto E4

8,999

Samsung Galaxy On Max
Samsung Galaxy On Max

9,775

nubia N2
nubia N2

15,999

Karbonn K9 Kavach 4G
Karbonn K9 Kavach 4G

5,290

Motorola Moto C Plus
Motorola Moto C Plus

6,999

Best Sellers