It turns out the gossips were real Sure. Xiaomi has just noted that Lu Weibing, the former President of Gionee, will head the independent Redmi brand. The company Additionally confirmed we’ll meet the Redmi Note 7 at the event today, its initially phone after becoming independent.
Lu Weibing will act as the In general Manager of the Redmi brand and will be the VP of Xiaomi Group. As the head, he’ll be responsible for brand building, product design, and income of the Redmi brand. Weibing will directly report to Xiaomi’s President and co-founder, Lin bin. The appointment goes into effect today and he’ll introduce at the Redmi Note 7 uncovering occasion that starts in a couple of minutes.
Splitting up the Redmi brand will switch out to be an major shift for the company. Huawei’s sub-brand Honor looks to be doing very well, and we’ve seen further more split-ups which includes POCO and Realme proving successful. In this regard, splitting up the Redmi brand makes sense. But, it’ll be interesting to look at how Lu Weibing steers the brand in this competitive market.
It is also worth noting that Xiaomi’s share price on the Hong Kong Stock Exchange has been falling down in recent times. The share price tag has fallen down Here HKD 10 as of writing this post, which is more than 40% drop from its IPO price tag of HKD $17.
Lu Weibing stepped down from his position as President of Gionee back in 2017. He has more than 20 years of performance in this industry.