smartphone market
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Midea Chairman Addresses Xiaomi’s Lu Weibing Visit: Reveals Which Appliance Giant—Midea, Gree, or Haier—Faces Market Displacement
CNBC AI News reported on May 19 that Midea Group Chairman Paul Fang revealed Xiaomi’s 2024 strategic presentation during a leadership meeting, outlining three key goals: becoming the world’s top smartphone vendor within three years, entering the global EV top five within a decade, and securing a top-three position in China’s home appliance market. Fang questioned whether Xiaomi aimed to displace established players like Midea, Gree, or Haier, but emphasized traditional manufacturers’ enduring advantages in supply chains and brand equity. Despite skepticism, Midea’s strategy team analyzed 100,000+ words of Xiaomi research, acknowledging parallels with their own 2010s digital transformation, though confirmed no automotive manufacturing partnerships despite industry speculation.
