Dialogue with Lei Jun: Under the pressure of strong competitors, Xiaomi has long given up on winning quickly.

After today's 2025 annual speech by Lei Jun, Chairman and CEO of Xiaomi Group, Lei Jun had a dialogue with the media. Lei Jun frankly stated that the competition in the smartphone market is more difficult than in the automotive industry, and under the pressure of strong competitors, Xiaomi has long abandoned the possibility of rapid victories. In the entire smartphone market, especially in the Chinese smartphone market, Xiaomi is playing a long-term game. "Looking back at the past 5 years, Xiaomi has undergone earth-shaking changes," Lei Jun pointed out, "Xiaomi's greatest strength is that time is Xiaomi's friend. Xiaomi is a long-distance runner. The longer the time, the stronger Xiaomi becomes." "We must not leave any blind spots in every dimension. We must have the determination to be hexagonal warriors, and look at where the differences are between us and our competitors in each dimension," Lei Jun said.