Sou Hu Cai Jing·2025-10-21 11:57Core Viewpoint - The ongoing rivalry between Gree and Xiaomi has intensified, marked by public exchanges and competitive market movements, particularly in the air conditioning sector, where Xiaomi has begun to encroach on Gree's market share [1] Group 1: Historical Context - The conflict between Gree and Xiaomi dates back to 2013, when Xiaomi's CEO Lei Jun claimed that Xiaomi's revenue would surpass Gree's within five years, leading Gree's chairwoman Dong Mingzhu to wager 1 billion yuan on the outcome [1] - In 2019, Gree reported a revenue of 198.1 billion yuan, narrowly beating Xiaomi, but was subsequently surpassed in revenue the following year [1] Group 2: Competitive Dynamics - The rivalry has escalated into a war of words, with Dong Mingzhu criticizing Xiaomi for insufficient R&D investment and lack of returns for shareholders, while Xiaomi executives have responded from a distance [1] - The competition is not just verbal; Xiaomi has entered the air conditioning market, posing a direct threat to Gree's dominance [1] Group 3: Market Performance - By July 2025, Xiaomi's air conditioner online sales are projected to exceed Gree's for the first time, achieving a market share of 16.71% compared to Gree's 15.22% during the same period [1] - Xiaomi's public relations manager commented on the changing landscape, indicating a significant shift in market dynamics [1]