The BCG report, titled The Most Innovative Companies 2020: The Serial Innovation Imperative, acknowledges Xiaomi for its active cross industry innovation efforts, based on a new scoring dimension that captures each firm’s variety and intensity of boundary breaking.
“In a world where every industry is becoming a technology industry to some degree, this kind of boundary-busting innovation is an increasingly important innovation capability,” according to the report.
“This result is in tandem with our mission of letting everyone in the world enjoy a better life through innovative technology, something that has been widely recognized by our Mi Fans and users in over 90 markets around the world where we are present,” said Shou Zi Chew, President of International, Xiaomi.
“At this company, we embrace a culture of bold innovation to push the boundaries of what technology can offer. A spirit of innovation permeates our company and guides our pursuits of relentlessly building amazing products, while bringing down the barrier of innovative technologies,” Shou added.
The company is committed in investing at least RMB 50 billion (~USD 7 billion) over the next five years in “5G+AIoT” to double down on its lead in the “5G+AI+IoT” (5G+AIoT) and next generation super internet”, and to ensure the company wins in this new smart era.
The company has also continually increased its research and development (R&D) investment. In 2019, the company’s R&D investment reached RMB 7.5 billion, a 29.7% year-on-year increase on the back of substantial R&D expansion for the three prior years. In 2020, the investment is expected to increase to RMB 10 billion. As of March 31, 2020, the R&D personnel, totaling 8,984, were staffed across various departments, accounting for 48.6% of all full-time employees.
Xiaomi’s patent portfolio covers many fields with respect to smartphones, smart hardware, internet technologies, manufacturing and product design. As of December 31, 2019, the company held over 14,000 granted patents and over 16,000 pending patent applications worldwide. Among the granted ones, over 6,500 patents were registered in various overseas countries and jurisdictions.
This is the third time Xiaomi has made the list. The company ranked as No. 35 twice respectively among the 50 most innovative companies of 2014 and 2016.
I recommend you to follow carefully the points approached in the official press release taken above. He does not boast of this excellent position. They recall the company’s culture and convey the intention to invest in 5G + AI + IoT in the future. They are preparing for the environment we will want in the coming years.
Another key point of this progress is the patents in the portfolio. Observance of the legislation in force is decisive for long-term projects.
After loyalty, trust is the second essential indicator in new marketing. It is built over time. It is also based on the overcoming of some difficult moments by the community around a brand.
There are two discussions about trust. The first is trust between the brand and the consumers of its products. The second is the trust between the brand and its investors.