Xiaomi CEO Lei Jun revealed that the company's ideology was influenced by the Buddha's teachings. This is reported by the GizChina edition.
Jun said that he and his like-minded people thought for a long time about how to name the created company. According to him, such proposals as “Red Star”, “Red Pepper” and “Black Rice” were shortlisted. A top manager of the corporation said that the word “rice” – mi in Chinese – did not appear by chance and eventually stuck in the name.
At some point during his brainstorming session, Jun recalled his favorite quote: “The Buddha views a grain of rice with as much significance as Mount Meru.” After the Xiaomi co-founders adopted the word “rice”, they decided to add the word “small” (Xia in Chinese) to it. Jun said that the idea came from investor Liu Qin. “The Internet is inherently evasive. We take not big, but small, ”the CEO of Xiaomi quotes Qin as saying. Jun admitted that the name was immediately liked by everyone in the audience.
Lei Jun also spoke about what influences the greatness of an IT corporation. In his opinion, Xiaomi's success is based on three aspects – technology, good products, focus on user experience. The top manager emphasized that success is definitely not related to the name, no matter how appropriate.
At the beginning of the year, Lei Jun revealed how the name Xiaomi came about. According to him, mi at the end of the word means mobile Internet, on which the corporation focuses. There is also a version that the ending is an abbreviation of the title of the movie “Mission: Impossible”, the idea of which correlates with the ideology of the company.