Chinese smartphone maker Xiaomi Group today announced its latest organizational restructuring, with the creation of three new departments - Software and Experience, Internet Business, and Business Middle Office.
These three departments are integrated from several independent departments in the past to promote the company's "Mobile x AIoT" strategy.
The Software and Experience Department consists of the former Internet 1 Department, TV, Laptop, Speaker with Screen, Photo Album, Cloud, and Account, which are the core experience business.
The Internet Business Department is composed of the Internet 1 Departmentโs mobile business, Internet 2 Department, Internet 3 Department, Internet 4 Department, Internet 5 Department and advertising sales of the Internet Business Department.
The Business Middle Office consists of parts of the former Business Products, Big Data and Cloud Platform.
In 2018-2019, Xiaomi had established several independent Internet business divisions. After this "reorganization", the business objectives of several divisions are more focused, and it is an important step for Xiaomi to implement its "Mobile x AIoT" core strategy.
CITIC Securities expects Xiaomi's market cap to reach HK$1 trillion, with AIoT as key driver
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