Xiaomi said today it is spinning off POCO, a sub-smartphone brand it created in 2018, as a standalone company that will now run independently of the Chinese electronics giant and make its own market strategy.
The move comes months after a top POCO executive — Jai Mani, a former Googler — and some other founding and core members left the sub-brand. The company today insisted that POCO F1, the only smartphone to be launched under the POCO brand, remains a “successful” handset. The POCO F1, a $300 smartphone, was launched in 50 markets.
Manu Kumar Jain, VP of Xiaomi, said POCO had grown into its own identity in a short span of time. “POCO F1 is an extremely popular phone across user groups, and remains a top contender in its category even in 2020. We feel the time is right to let POCO operate on its own now, which is why we’re excited to announce that POCO will spin off as an independent brand,” he said in a statement.
A Xiaomi spokesperson confirmed to TechCrunch that POCO is now an inde ..
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