Xiaomi vs. Gree: How a US$140m bet turned into China's biggest appliance showdown

Staff reporter, Taipei; Levi Li, DIGITIMES Asia Thursday 28 August 2025 0

Xiaomi chairman, Lei Jun. Credit: DIGITIMES

In 2013, at China's Annual Economic Person of the Year awards, Xiaomi founder Lei Jun publicly wagered with Gree Electric Appliances chairwoman Dong Mingzhu that if Xiaomi's revenue topped Gree's within five years, she would pay him CNY1 billion (US$139.8...

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