Xiaomi CEO Sold Products On A Livestream For 2 Hours, Earned $30 Million In Revenue, Breaking Records

Lei Jun, Xiaomi’s founder and managing director, had his first livestream on Douyin, which turned out to be very successful. The livestream lasted for 2 hours, got more than 50 million real-time viewers, and helped Xiaomi earn $30 million (Rs 22.37 crore).

In his Weibo post on Monday, Jun said both the views and earning from the livestream broke records. He was so surprised by this.

In the 2-hour livestream, Xiaomi CEO introduced several new products, including the Mi10 Ultra and the Mi TV LUX Transparent Edition. The Chinese tech firm also let people pre-order the products in the livestream and got over Rs 22.37 crore in revenue.

With this successful livestream on Douyin, Lei Jun became one of the few tech leaders in China to become a star in livestreaming.

Selling goods on by livestreaming is growing strong, especially in China. It’s not only an entertainment channel but also integrated with other areas like e-commerce.

In the COVID-19 pandemic, livestream is developing even further and has become the main retail channel for many e-commerce companies. Even billionaire Jack Ma often appears on livestream to sell goods for Alibaba, suggesting that other Chinese tech firms will soon follow.

And if you don’t remember, Douyin is the Chinese name for TikTok, the popular yet troublesome social platform that has been banned in India and on the verge of being banned in the US. Before that, TikTok as the most downloaded app in India with 190.6 million downloads onto both Android and iOS devices and a user base of over 200 million. Now that the platform is banned in the country, it’s a big loss for TikTok and ByteDance despite the largest usebase remains in China with more than 400 million.

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