Lei Jun: Xiaomi's Investment in Hard Tech Expected to Surpass 200 Billion Yuan Over Next Five Years

On October 21, at the 2026 World Intelligent Connected Vehicle Conference, Lei Jun, founder, chairman, and CEO of Xiaomi Group, stated that Xiaomi has built the world's largest consumer IoT platform. As of the end of the second quarter, the number of connected IoT devices globally exceeded 1.1 billion. To enhance the overall ecosystem experience, Xiaomi has consistently increased R&D investment in underlying hard technologies such as chips, operating systems, and AI embodied intelligence over the past few years. Over the last five years, Xiaomi invested 105.5 billion yuan in hard tech R&D, with related investments expected to exceed 200 billion yuan in the next five years.