Lei Jun talked about Xiaomi’s secret to success: We restrained our greed and only earned a little!
Recently, Lei Jun returned to his alma mater, Wuhan University, and shared Xiaomi's business philosophy in his speech at the "Lei Jun Class". He stressed: "We restrained our greed and only earned a little bit."
Lei Jun reviewed the press conference held by Xiaomi at Wuhan University on April 25, 2018, and mentioned his promise at the time: Xiaomi's overall hardware business (including mobile phones, IOT and consumer products) will not exceed 5% each year. If the actual net profit margin exceeds this proportion, Xiaomi will return the excess to the user in a reasonable way.
Lei Jun said that the key to Xiaomi's ability to provide users with great value for money is that the company always maintains restraint and pursues reasonable meager profits. He pointed out: "Profit is not the goal, but the natural result after making good products."
