China's Xiaomi Corporation recently published a voluntary announcement, which revealed the company's expected revenue and R&D expense in 2019.
According to the report, by December 31, 2019, Xiaomi's expected revenue for 2019 was over CNY200 billion and its expected research and development expense was about CNY7 billion.
Xiaomi said that the company would continue to enhance investment in R&D and they would focus on 5G+AIoT to expand its leading advantage in the intelligent lifestyle sector. For the year of 2020, the company plans to invest over CNY10 billion in R&D.
In 2019, Xiaomi maintained its stable operation and continued to promote its smartphone and AIoT dual engine strategy. By September 30, 2019, the company's total cash reserves reached CNY56.6 billion.
In addition, Xiaomi was committed to technology development and exploration. For smartphone business, the company launched the world's first surround screen phone MIX Alpha. At the end of 2019, the company launched the world's first 5G phone below CNY2,000, Redmi K30 Pro.