Lei Jun: Xiaomi made huge losses when it first sold 100-inch TVs, and one set lost five or six thousand

September 21, 2022

Latest company news about Lei Jun: Xiaomi made huge losses when it first sold 100-inch TVs, and one set lost five or six thousand

Core tip: He mentioned that when Xiaomi initially made a 100-inch large TV, it was a huge loss and posted a lot of money to do it. At that time, each TV lost five or six thousand yuan. In fact, during the internal meeting, there was a suggestion to settle for 50,000, but Lei Jun thought that was not attractive, and he had to do it to 20,000. He is certain that this thing will have a scale in the future, and that it will definitely make money in a certain period of time.
Would you spend 10,000 yuan to buy a 98-inch, 100-inch giant-screen color TV from Xiaomi?

In the second episode of CCTV Finance's "Genting Dialogue", Lei Jun talked to the camera about his views on topics such as cost performance, brand premium, and made in China.

He mentioned that when Xiaomi first made a 100-inch large TV, it suffered huge losses and posted a lot of money to do it. At that time, each TV cost 5,000 to 6,000 yuan. In fact, during the internal meeting, there was a suggestion to settle for 50,000, but Lei Jun thought that was not attractive, and he had to do it to 20,000. He is certain that this thing will have a scale in the future, and that it will definitely make money in a certain period of time.

Lei Jun said that now 98-inch and 100-inch TVs are selling very well, and the market share is very high. It was Xiaomi who dared to set the price of 1/10 of the competing products at that time, which led to the popularity of giant-screen TVs in China.

After investigation, the Redmi MAX 100-inch TV currently on sale on Xiaomi's official website is 19,999 yuan, and the Redmi MAX 98-inch TV is 15,999 yuan.