According to an internet source, Lei Jun, the co-founder, and CEO of Xiaomi expressed in a recent interview to Xinhua, in which he exposed some of his company’s future plans. He also mentioned the problems faced by the company due to the COVID-19 pandemic.
According to him, 5G will revolutionize the industry with applications like 4K / 8K video conferencing, cloud gaming (game streaming), and auto-pilot. Thus, Xiaomi / Redmi has been launching 5G handsets to ramp up the adaptation.
Unfortunately, the coronavirus outbreak in China affected the company’s supply chain severely. Due to which, it was out of 5G handsets in warehouses. This made Xiaomi subsidize factories for 250 million Yuan to increase the production of 5G smartphones. Also, it is planning to stop the manufacturing of 4G handsets in China by the end of 2020 to spend more resources on 5G devices.
Xiaomi will be focussing more on mobile and AIoT, which it revealed last year. Also, it will work with the Chinese government to build disaster warning systems and other public service systems relying on 5G technology.
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