Briefing: Xiaomi to undergo internal restructuring
小米启动上市后首次重大组织架构调整：发力互联网和 IoT – 动点科技
What happened: Lei Jun, founder and CEO of Xiaomi, has announced to staff that the company will be undergoing a series of internal restructuring. On top of the shuffling of top management, Xiaomi will establish 10 new business units: four internet business units, four hardware products units, a technology platform, and an e-commerce platform. Lei also noted that the company will put more focus on fostering young managerial talent.
Why it’s important: This is the first internal shake-up after the company’s initial public offering in July. The company is facing no shortage of challenges following its IPO–particularly in the smartphone business where they generated 70% of its revenue. Xiaomi is now facing increasing competition from industry players like Oppo in both the domestic market and overseas. After the internal restructuring, the company will likely be directing more resources into IoT and Internet-related businesses aside from its smartphone business.