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Xiaomi CEO Lei Jun Makes $30 Million in Sales in Livestreaming Debut

Ding Yi / Aug 18, 2020 06:05 PM / Business & Tech

Lei Jun has become the latest Chinese tech leader to cash in on live broadcasting to enhance his company’s sales and brand awareness.

On Sunday, the chairman and CEO of Beijing-based smartphone maker Xiaomi completed his maiden e-commerce livestream that generated sales of 210 million yuan ($30 million) and attracted 50.5 million viewers.

During the two-hour event conducted on the Chinese short video platform Douyin, the local version of TikTok, Lei sold a variety of Xiaomi-branded products, led by its new flagship smartphone the Mi 10 Ultra, according to a post published on Lei’s Weibo account.

The Covid-19 pandemic has increased demand for e-commerce livestreaming, which is now being used by many of China’s merchants to boost sales, particularly at a time when the disease has not been completely brought under control.

Also on Sunday, Lei announced the expansion of Xiaomi’s partners board, an Alibaba partnership-like system which exerts tremendous influence over the company’s future direction, development and culture. Lei also unveiled a new 10-year strategy which focuses on smartphones, artificial intelligence (AI) and the Internet of Things (IoT).

Hong Kong-listed Xiaomi, the world’s fourth-largest smartphone seller, ranked 422nd on the Fortune Global 500 list for 2020.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Xiaomi Introduces Four New Executives Onto Its Partners Board As Company Focuses On AI and IoT

 


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