Xiaomi Q4 conference call: This year, approximately 7 to 8 billion will be invested in AI, with AI, OS, and chips listed as Xiaomi's core technologies
Xiaomi Corporation President Lu Weibing stated at the 2024 performance meeting that the company will invest 7 to 8 billion in AI research and development, accounting for 1/4 of the total R&D budget. AI, OS, and chips are regarded as core technologies. Xiaomi plans to increase its market share in the next three to five years and achieve a target of 350,000 vehicle deliveries. The Q4 financial report shows that revenue has surpassed 100 billion for the first time in a single quarter, with a gross margin of 20.4% in the automotive business
On the 18th, Xiaomi Corporation President Lu Weibing stated at the 2024 performance meeting that Xiaomi will invest about 7 to 8 billion, which is 1/4 of its total R&D expenditure, into AI.
"In the long term, AI, OS, and chips are listed as Xiaomi's core technologies.
In the short term, Xiaomi needs to build a solid AI infrastructure, develop language large models, multimodal large models, and other AI technologies, and create application scenarios for the implementation of AI large models, such as Super Xiao Ai, smart cockpit, and intelligent driving. Xiaomi will also utilize AI technology to improve internal efficiency."
Lu Weibing also mentioned during the earnings call that the competitive landscape of the Chinese smartphone market is relatively stable, with market shares of major manufacturers being very close. However, over the next three to five years, there will be a gradual differentiation, with leading brands becoming stronger. Xiaomi's goal is to increase its market share by 1 percentage point each year.
Lu Weibing further noted that under the "human-vehicle-home ecosystem" strategic synergy, the automotive sector has helped Xiaomi's brand achieve significant breakthroughs, with the Xiaomi 15 Ultra's cumulative sales increasing by 80% year-on-year as of March 17.
Xiaomi Corporation's Q4 financial report shows that the company's revenue has surpassed 100 billion for the first time in a single quarter, with a gross margin of 20.4% in its automotive business, aiming for a delivery target of 350,000 units this year. Lei Jun stated that this is Xiaomi's strongest annual report in history.
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