Wednesday , July 8 2020
Home / Facebook / Gadgets / Xiaomi co-founder Lei Jun steps down as China president in a leadership reshuffle

Xiaomi co-founder Lei Jun steps down as China president in a leadership reshuffle

TNW uses cookies to personalize content and ads to
make our site easier for you to use.
We do also share that information with third parties for
advertising & analytics.

Gadgets for humans

Xiaomi‘s chairman and co-founder Lei Jun has stepped down from being the company’s Chinapresident, as per a report from Technode. In an internal letter circulated last week, the company notified its employees of major changes across leadership roles.

Lu Weibing, the head of Xiaomi‘s spin-off brand Redmi, will now take over Lei Jun’s responsibilities. In other major changes, former president Lin Bin was promoted to the company vice president, and CFO Zhou Capital was promoted to president of international business. 

In the letter, Lei Jun said, “Next year will be an offensive year for Xiaomi‘s 5G business, and it will also be a key year for Xiaomi to promote mobile phone + AIoT. We need more powerful group management support It is necessary to continue the organizational innovation vitality brought by the cadre rotation mechanism.” 

According to the company’s Q3 results, its smartphone business revenue dropped 7.8 percent year-on-year due to slowdown in the China market. As per a report from analytics firm Canalys, Xiaomi‘s market share dropped to 9 percent from 13.1 percent at the same time last year.

The tech giant posted a growth of 5.5 percent year on year, which is its slowest after the company was listed on the Hong Kong stock exchange last year. The new leadership will have to prove its worth by overtaking competitors like Huawei, Vivo, and Oppo to take Xiaomi back to its glory days of being at the top of the Chinese smartphone maker charts.

For more gear, gadget, and hardware news and reviews, follow Plugged on
Twitter and
Flipboard.

Published December 2, 2019 — 07:28 UTC

Thank you!

Copyright © 2006—2019.
All rights reserved.
Made with in Amsterdam.

Source

About IT News Ug

Check Also

Dear Google, please let this Pixel 5 ‘leak’ be fake

TNW uses cookies to personalize content and ads to make our site easier for you …

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

//graizoah.com/afu.php?zoneid=2572107