It was a special night. Lei Jun reconciled with himself in the past.
Lei Jun, 52, is still tall and straight in a white shirt, jeans and sneakers, telling the entrepreneur's self-discipline. On August 10, 2021, standing on the stage of Xiaomi's 11th anniversary press conference, Lei Jun was emotional several times.
Since 20 years ago, Lei Jun, who withdrew after listing in Jinshan and realized financial freedom, has plunged into the emerging mobile phone industry and experienced storms such as supply chain crisis, listing breaking and stock price cutting. On the screen of the press conference, it was once released that Lei Jun and several partners hid in the sundry room in the channel of the Hong Kong Stock Exchange on the day of the breaking of Xiaomi's listing. He smiled bitterly in the picture.
After three years, Lei Jun smiled triumphantly last night. On January 4, 2021, Xiaomi's closing price was HK $34, and finally reached twice the issue price; In 2021q1, the global sales of Xiaomi mobile phones surpassed apple for the first time and became the second in the world. Now, they launched the horn of "impact first".
It was a special night for Lei Jun, who reconciled with his past self.
Meng Jinghui is a well-known pioneer drama director in China. When asked how to make life choices, he said, "choose the hardest thing to do. Unreality is often more powerful than reality. " In fact, he grew from a Chinese teacher in a technical school to the most famous drama director.
During a conversation, Lei Jun asked him, "how to be a pioneer?" It's simple to say, but when you want to do it, you must have a pioneer mentality and a pioneer standard. Break some things that are complacent. " Meng Jinghui said that in the process, you may have to face the unfamiliar, incomprehensible and even various criticisms of others.
This is also the situation Lei Jun has been facing. At the beginning of Xiaomi's establishment, because its suppliers did not understand the Xiaomi model, Xiaomi was unable to find a source of goods and factories willing to cooperate, and experienced the despair of almost "stillbirth".
Later, after the launch of the first generation of mobile phones, Xiaomi sang all the way to the third place in the world. At the first World Internet Conference in Wuzhen in 2014, the host asked Lei Jun, what is Xiaomi's future development strategy? It was in high spirits that Lei Jun blurted out, "be the first in the world in five to ten years."
Now, Lei Jun thinks, "the great dream sounds naive and simple. It should be a little more naive than reality. "
In the years after that meeting, Xiaomi also struggled with channel adjustment and supply chain crisis. Seven years later, according to the report of third-party research institutions such as canalys, the shipment of Xiaomi mobile phones reached 53.1 million, a year-on-year increase of 86.6%, surpassing apple with a share of 17%, ranking second in the world for the first time; In addition, in the European market, Xiaomi surpassed Samsung and apple to become the first mobile phone brand in Europe with a market share of 25.3%. At present, Xiaomi has ranked first in the smartphone market in 22 countries and regions.
In his 11th anniversary speech on August 10, Lei Jun said, "in the next three years, we will become the first in the world." Xiaomi must become the greatest company in the world. " In the past, no Chinese entrepreneur dared to set this goal.
Lei Jun and Xiaomi have been making some "bold" choices. At the end of the press conference on August 10, Lei Jun announced that he would give 1999 yuan red envelopes to the first batch of 184600 users of Xiaomi mobile phone, with a total value of 370 million yuan, to express his gratitude. Ten years ago, Xiaomi was still a very small company. He recalled, "these orders kept climbing for more than three months before they were delivered."
When it was first established, almost no one was optimistic about Xiaomi. When partners go to negotiate suppliers, they often get the reply "is your company OK? Don't even get the final payment. "
In Xiaomi's biography "indomitable", it is written that when entering the supplier conference room, Lei Jun found that for the first time in his life, he needed to introduce himself again and again. Lei Jun, who has always been a legendary figure in the software and Internet world, is still a strange name for the manufacturing industry.
In the world of software and Internet, Lei Jun, who became famous when he was young
Once, a touch supplier sent two representatives to Xiaomi to talk about cooperation. They half leaned back on the sofa and clearly told the people in Xiaomi's mobile phone department, "we know there will be no business here. It's just that the boss asked us to come. We're just going through the motions. "
In fact, the more top suppliers, the more cautious they will be in cooperation with new brands, especially for fledgling companies such as Xiaomi. Sharp was the world's top screen supplier at that time. After repeated efforts, Xiaomi got an opportunity to talk with sharp and cherished it very much. The time was set for March 24, 2011. On March 11, a 9-magnitude earthquake struck Japan, causing a tsunami that killed 15000 people. In the shadow of the nuclear leak, the streets were empty.
Whether to keep the appointment according to the agreed date was decided by several founders of Xiaomi after discussion. Compared with the supply chain problems, earthquake and nuclear radiation are already the smallest difficulties encountered by Xiaomi at this time.
On the same day, sharp was surprised by the visit of Xiaomi team. They are the only group of visitors in the sharp building. Later, the person in charge of sharp business said, "the success of this cooperation reflects our love of adventure."
With sharp's endorsement, Xiaomi's supply chain cooperation has slowly opened up. The first generation of Xiaomi mobile phone just started from the high-end, and the pioneering spirit of adventure has always been rooted in Xiaomi.
Later, due to the hot sales of red rice series, Xiaomi was once misunderstood by many people as only doing medium and low-end products. Lei Jun believes that in order to become a great company, we must open up a situation in the high-end market. Therefore, starting from Xiaomi 10, it once again announced its return to the high-end road.
Millet series mobile phones collected from rice noodles
In 2019, the price of components has increased greatly. In order to maintain high cost performance and make high-end machines without loss, two conditions need to be met at the same time: the price must be more than 4000 yuan and the sales volume must be more than 2 million units. Lei Jun is worried. Will users pay?
By the beginning of 2020, Lei Jun's worries were one more: a sudden COVID-19 disrupted people's order of life and disrupted their offline new product release plan. Great pressure enveloped the team. In early February, "we made a difficult and bold decision: follow the original plan."
On February 13, 2020, Xiaomi 10 press conference was held: a purely online live conference. The venue was empty except for the staff. This is the first time that a company in the industry has tried to broadcast the press conference on the whole line. No one can guarantee the effect. "Don't be afraid to make a choice, just do it."
The next day, Xiaomi 10 broke through 200 million sales in one minute. So far, the cumulative sales have reached 5.77 million units. Xiaomi won the first battle of impacting the high-end market. Later, Xiaomi 11 ultra released in 2021 was more radical and bold in camera performance, and conquered a group of consumers.
Recalling the past, Lei Jun felt that it was "difficult" and "cruel" to be a pioneer in the technology industry. "You must constantly break through the restrictions imposed on you by the whole industry and the inherent rules. Otherwise, it will be eliminated by this era. "
But this process is also very "energetic", in his words, because the dream to be completed is large enough to pursue the success of enterprise values. Later, he set a goal for Xiaomi: the comprehensive profit margin of Xiaomi hardware will never exceed 5% Excellent companies make profits, and great companies win hearts and minds. "
Start a career with technology
In order to develop a comprehensive screen, Lei Jun allocated 100 million. The R & D team is walking on thin ice and "dare not move. What if they can't make achievements". Sure enough, one hundred million yuan burned up quickly. The person in charge reported to Lei Jun in frustration and shame. The latter was silent for 30 seconds and allocated another 100 million.
That was the beginning of 2014. Several Xiaomi engineers chatted. What's the mobile phone like five years later? A consensus was reached that "the front is full of screens". When Lei Jun heard of the clapping, he immediately began to do it, regardless of commercial cost and not driven by commercial purpose. In his opinion, this is a product that gives full play to the innovative spirit.
Due to the use of comprehensive screen and ceramics as fuselage materials, no one in the industry has tried, and the firing process is very difficult. During the test, thousands of pieces may be burned at a time. Both enterprises and R & D teams are under great pressure.
After nearly three years of R & D investment, Xiaomi mix, the founder of this comprehensive screen, was launched on October 25, 2016, realizing that the proportion of mobile phones in the screen reached more than 90% for the first time.
The engineers involved in the research and development of Xiaomi mix feel that building such a product requires a kind of sportsmanship. They should not only have perseverance and ambition to pursue success, but also face the reality that they may fail and withdraw from the competition.
Such a bold attempt did not even attract the attention of friends at that time, because no one thought Xiaomi could make this product.
Later, Time magazine called the design of Xiaomi mix shell "the revolution of ceramic technology". After mix, Google began to improve the Android system to adapt to larger screen phones. Xiaomi mix is generally regarded as a product that really leads the industry to the era of "full screen".
In 2017, Xiaomi mix 2 was launched, and its screen share and camera function were further improved; In 2018, Xiaomi mix 3 took the lead in trying the structure of sliding cover.
After three years, at the press conference, Xiaomi mix series new products returned again. Lei Jun said that the arrival of Xiaomi mix 4 is to continue the original dream of mix and continue to explore the evolution possibility of comprehensive screen form.
Millet mix 4 hides the front camera under the screen without any visual obstruction of hole digging and water droplets. The front is a complete screen. In order to achieve this form, Xiaomi started the technical pre research three years ago, went through three technical iterations, invested a total cost of more than 500 million yuan, applied for 60 invention patents and obtained more than 40 patent certifications. More than 100 display engineers participated in the research and development of cup comprehensive screen.
As an electronics enthusiast, Lei Jun has been recognized by many students as "a little wild in the heart" since he was in college. Although he looks like a three good student, he likes to practice the geek spirit in his own world. This spirit was fully released in Xiaomi.
In addition to Xiaomi mix 4, several other new products at this press conference also have a strong pioneer of future oriented innovation. For example, the application of UWB in Xiaomi intelligent ecology is considered to be the best way to open smart home in the future; And cyberdog, which is used to explore the relationship between bionic technology and human future.
These are the products promoted by engineers, and technical talents have a high position in Xiaomi. Last year, Xiaomi officially announced three iron laws that will never change:Technology-based, cost-effective and making the coolest products。 In Lei Jun's view, technology is the ultimate magic weapon to realize his dream.
To get the target to the ground,In 2021, the R & D investment of Xiaomi technology is expected to exceed 14 billion yuan.The thirst for technical talents once made Xiaomi a hot search,Not long ago, Xiaomi disclosed the "incentive plan for young engineers", awarded about 70 million Xiaomi shares to 3904 excellent engineers, and conducted a new incentive plan for 122 technical experts, the first batch of winners of the new decade entrepreneur plan and middle and senior managers for a decade, granting more than 119 million Xiaomi shares。
In addition, Xiaomi has introduced a group of young and experienced executives from the outside in the past three years, and internally promoted several young group executives and dozens of young general managers in order to improve the construction of organizational capacity. It is reported that Xiaomi will recruit more than 5000 engineers this year, and the scale of the R & D team will reach 16000.
Ten years ago, Xiaomi used the avant-garde Internet model to drive the rise of the domestic smartphone industry. Ten years later, domestic brands have dominated the domestic market and gradually rewritten the global mobile phone pattern.
In the new decade, standing at the second height in the world, Xiaomi can only continue to invest frantically in technology and talents if it wants to impact the first in the world. " If Xiaomi wants to become a great company and realize its dream, it must break through the high-end. " Lei Jun said that Xiaomi chose a more difficult but meaningful road.
"Good choice, not so rational and smart"
Breaking is a nightmare for every entrepreneur. On July 9, 2018, Xiaomi broke off on the day it was listed on the Hong Kong stock exchange. In order to avoid the reporter's questioning, Lei Jun and several partners hid in a utility room, "I'm particularly unhappy.". The thank-you dinner went on as usual. During his speech, Lei Jun couldn't help saying, "today's break, I feel sorry for you. We will work hard to make IPO investors at least double their profits! "
Lei Jun and Xiaomi partner Lin bin in the sundry room of the Hong Kong Stock Exchange
Reasonably speaking, the CEO of a listed company should not make a commitment to return on investment. Later, with the escalation of the Sino US trade war, Xiaomi shares "fell endlessly" all the way. On September 2, 2019, the share price once fell to HK $8.28. As the CEO of a listed company whose share price has halved, the psychological pressure is undoubtedly huge.
"The best investment is to invest in yourself. Instead of persuading others, you'd better buy it yourself. " Xiaomi began to buy back shares and started a high-end strategy. Since then, the market value of Xiaomi has gradually rebounded.
In less than three years, Lei Jun fulfilled his promise. On January 4, 2021, Xiaomi's closing price was HK $34, twice the issue price two years ago. " That day, I seriously told my colleagues that futu, tiger, flush, snowball, great wisdom and optional shares were all unloaded, and I don't have to care about the stock price anymore! "
Changes in Xiaomi's share price over the past three years
Lei Jun, who is no longer worried about the stock price, made a new commitment to "become the first in the world in three years". In his words, "good choices are often not so rational or smart. Beyond reality, you might as well be a little more naive. "
Xiaomi also invited track and field athlete Su Bingtian as the brand spokesman. This is the first brand spokesman in Xiaomi's history. "Su Bingtian's spirit of struggle, struggle and pursuit of perfection is completely consistent with Xiaomi's brand spirit." Lei Jun felt that Su Bingtian had never given up his dream of running and used scientific methods to "defeat himself, past achievements and age".
Su Bingtian broke the black monopoly on sprint and proved that Chinese and yellow people can also run into the 10 second mark. At the same time, he broke through himself on the runway. As an associate professor of Jinan University, he did scientific research and published papers, turning his experience into the cornerstone of his teammates' progress.
In Lei Jun's view, Xiaomi is also constantly breaking through itself. From mobile phones to aiot to cars, it has also driven the growth of supply chain, industrial chain and sales system, and accelerated the development of domestic advanced intelligent manufacturing industry. Lei Jun said internally that Xiaomi is a company that has been established for only 11 years. It is like a teenager running in the sun. Ten years later, in the midst of adventure and pain, Xiaomi is completing the transformation from a challenger to an innovative leader for the future.
To launch an impact on the first in the world means that there will be challenges from technology giants with more long-term accumulation and heritage. Lei Jun said, "I am not a genius, nor a model worker, nor a god of war. I am just an ordinary engineer, pursuing dreams and doing what I love."
- THE END -Geek Park