Xiaomi spins off POCO as an independent brand – TechCrunch

Xiaomi said today it is spinning off POCO, a sub-smartphone brand it created in 2018, as a standalone brand that will now run independently of the Chinese electronics giant and make its own market strategy.

The move comes months after two top POCO executives — Jai Mani, and Alvin Tse — left the Chinese giant. The company today insisted that POCO F1, the only smartphone to be launched under POCO brand, remains a “successful” handset.

Manu Kumar Jain, VP of Xiaomi, said POCO has 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.

More to follow…