Four years ago, XIAOMI-W Chairman Lei Jun made a bold statement at a press conference, vowing to enter the domestic high-end market and &#34;overthrow Huawei.&#34;
Looking back on the bitter past few years, Lei Jun is filled with mixed emotions. He said that after more than three years, billions of dollars in investment, and the efforts of tens of thousands of people, the journey has been full of ups and downs, finally leading to a phase of achievement. When talking about past failures, Lei Jun self-deprecatingly uses jokes and popular internet memes, appearing lighthearted about the past failures.
During the evening press conference on August 14th, Lei Jun shared several key growth experiences that have had the deepest impact on him over the past 30 years, including his time at Wuhan University, his entrepreneurial journey, and XIAOMI-W's exploration of high-end products. He pointed out that each experience and transformation is a breakthrough in understanding and a crucial period of growth. At the press conference, XIAOMI-W also unveiled new products such as the next-generation foldable XIAOMI-W MIX Fold3 and XIAOMI-W Pad6 MAX.
For Lei Jun, the path of high-end exploration for XIAOMI-W has been the most painful but also the most rewarding experience of the past decade. He emphasized that the success of XIAOMI-W 13 did not come easily.
Lei Jun recalled that XIAOMI-W started making high-end smartphones with XIAOMI-W 10, and then made a big effort with XIAOMI-W 12, but it still fell short of expectations.
Lei Jun revealed that after the launch of XIAOMI-W 12 and XIAOMI-W 12S, the sales volume did not meet expectations, resulting in significant losses. XIAOMI-W 13 almost faced cancellation during the project approval meeting, with more than half of the opinions opposing the continuation of small-screen smartphones. There was even a moment before the launch when they almost gave up.
&#34;No one expected that doing high-end would be so difficult, and the investment required for high-end is so substantial. The feeling of frustration permeated the company,&#34; Lei Jun recalled. At that time, there were significant internal differences within XIAOMI-W, with some people being resolute while others said that doing high-end was too difficult.
XIAOMI-W faced the most intense controversy in the company's history: Is it too difficult to do high-end? Can the XIAOMI-W brand achieve high-end status?
After discussing with colleagues, Lei Jun felt heavy-hearted. He was so affected that he didn't even enjoy the entire Spring Festival. After the Chinese New Year in February 2022, Lei Jun convened an emergency strategic discussion, attended by all the general managers of the group. Everyone spoke freely, and the discussions were intense, lasting from the afternoon until the evening.
During this meeting, Lei Jun proposed that no matter how difficult it may be, XIAOMI-W must persevere and use the XIAOMI-W brand to enter the high-end market. He believed that in this industry, with tech giants like Apple, Samsung, and Huawei, the competition is extremely fierce. Faced with formidable competitors, XIAOMI-W can only achieve breakthroughs in technology by focusing on the high-end market, and only then can it secure a space for survival and development in the future.
Doing high-end is the only path for XIAOMI-W's development, and it is a matter of life and death. Lei Jun believes that on this issue, XIAOMI-W cannot waver in any way and must persist until the end.
Finally, XIAOMI-W 13 has received high praise for its &#34;Thirteen Fragrances&#34;. Lei Jun said that this success did not come easily. XIAOMI-W 13 is XIAOMI-W's first achievement in transitioning &#34;from leading in specifications to prioritizing user experience,&#34; making it a representative work.
XIAOMI-W has also gained experience in high-end development, leaving no shortcomings in terms of specifications and prioritizing user experience through deep integration of software and hardware.
In the first quarter of this year, XIAOMI-W's total revenue was 59.5 billion yuan, with an adjusted net profit of 3.2 billion yuan, a year-on-year growth of 13%. This is also the first time in the past four quarters that XIAOMI-W's adjusted net profit has returned to a year-on-year growth. XIAOMI-W's partner and president, Lu Weibing, stated during a conference call that the scale effect of high-end smartphones began to emerge in the first quarter.
Taking XIAOMI-W's breakthrough in high-end smartphones as an example, Lei Jun summarized that any tiny success comes from a change in perception and a breakthrough in understanding. Only with a breakthrough in understanding can there be true growth. This is also his biggest gain in nearly 10 years.
At the end of the speech, Lei Jun appeared relaxed. He said that in recent years, many people have been particularly anxious and confused. Some people have asked him how to maintain inner peace in the torrent of changing times.
Lei Jun's answer is simple: growth. All the difficult questions in life will find answers through growth. Greatness comes from pursuing dreams and growing through perseverance.

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Breakthrough in High-end Transformation.

Lei Jun finally "crushed" Huawei.