Lei Jun: `I Feel We’re Very Different From Apple

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Sept. 6 (Bloomberg) –- Bloomberg’s Stephen Engle reports on Xiaomi CEO Lei Jun, who has been described as the Steve Jobs of China and his competition with Apple. He speaks on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Welcome back.

I am emily chang and this is "bloomberg west billionaire elon musk's space exploration company is trying out new ways for engineers to design rockets using 3-d technology.

Spacex posted an online video manipulating a 3-d model using hand gestures.

Musk explained the importance of this technology.

We are on the verge of a major breakthrough in design manufacturing, being able to take the concept of something from your mind, trance that -- translate that into a 3-d object on the computer and take that and be able to make it real.

Spacex is teaming up with companies like the motion -- leapmotion to make the technology work.

Xiaomi has already claimed a larger share of the chinese mobile market and apple.

Founder and ceo lei jun ticket -- took a page right out of steve jobs's book.

Bloomberg west.

Exclusive access to the product unveiling.

With a young steve jobs like haircut and wardrobe, lei jun has cultivated an apple-like old friends he in china for his three-year-old smartphone upstart.

Shall mean -- xiaomi means little rice in china.

Their devotion to the product is not unlike apple enthusiasts.

He has lots of new friends , but just don't call him the steve jobs of china.

A lot of people think we are china's apple.

I feel this only cap lowers -- captures part of it.

I feel we are different from apple and more like amazon, selling hardware at cost and stacking services and content on top of the hardware.

In terms of product style, ok, we are more like apple.

We are a little like both.

Except that xiaomi only began selling phones about 22 months ago.

Sales this year are far above their own forecast, selling more than 7 million handsets in the first half, beating apple and china and -- i can say that we are profitable.

I asked which one would win here.


Apple is more expensive and their handset is higher quality.

Xiaomi's system is better.

I think xiaomi is better.

It is more suited for chinese people.

Why would a young chinese person picked this one over this one, the iphone 5? i think both are cheap.

Lei jun is not going to be number one.

He hired hugo vara from google -- hugo barr a from google but he says there are no plans for an ipo and he is not seeking strategic partners for a company that he says is valued at $10 billion.

I am not interested in being a big company.

I hope to be a good company focusing seriously on a few products.

This is my personal goal.

I hope to have a small company where i can be at the frontline of the product line.

I have no interest in being a boss.

Maybe the opposing force here, in three years and a xiaomi has moved office five times" -- its workforce.

It is no longer a little company.

Stephen engle joins us from beijing.

Let's talk about the money xiaomi is turning a profit for the first time.

How has it been able to turn a profit so quickly when their phones are so cheap?

That is one thing that we kept on asking lei jun.

How are they profitable question mark -- how are they profitable?

They said it would be three years before they even break even.

They have already reached profitability.

Their new

This text has been automatically generated. It may not be 100% accurate.


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