Core Insights - Xiaomi's chairman Lei Jun addressed the company's journey towards becoming a technology-driven firm, emphasizing the importance of self-developed chips and electric vehicles in the face of intense competition from giants like Apple, Samsung, and Huawei [1][11] - The company has faced skepticism regarding its technological capabilities, often being labeled merely as an assembly factory [1][11] Chip Development - Xiaomi launched its first flagship 3nm chip, the Xuanjie O1, marking a significant achievement in its chip development journey [4][10] - The company previously faced challenges with its chip division, particularly with the failure of its first chip, the Surge S1, which led to a temporary halt in SoC development [6][7] - The decision to re-enter the chip market was driven by the belief that self-developed chips are essential for success in the tech industry [8][10] Market Competition - The smartphone market is described as highly competitive, with six major players each holding an average market share of 15-16% in China [1][11] - Xiaomi aims to adopt a long-term strategy in the smartphone market, focusing on sustained growth rather than quick wins [19] Automotive Ventures - Xiaomi's entry into the automotive sector has been met with significant challenges, including public skepticism and competition from established players [22] - The company has emphasized the importance of collaboration within the automotive industry to foster a positive environment for growth [22] - Xiaomi's electric vehicle models, such as the SU7 and YU7, are seen as critical to its automotive strategy, with a focus on unique design rather than following competitors [20][22]