Product innovation logic under the open innovation ecosystem: A case study of Xiaomi (China)

Based on an exploratory case study of the famous Chinese Internet company Xiaomi, this research summarises the experience logic of product innovation under the open innovation ecosystem from the perspectives of innovation entities and innovation platforms, and discusses how core companies can be more effective in the open innovation ecosystem to realise product innovation. The research draws the following conclusions from the two aspects of innovation subject diversification and innovation resource platformization: (1) The open innovation ecosystem emphasises the use of open subject joint innovation including core enterprises, users and partners; (2) Under the platform architecture, the allocation of reusable shared resources is conducive to the rapid growth of the product innovation ecosystem. In the process of platforming innovation resources, an open innovation ecosystem of cooperation, symbiosis and common development is gradually formed. This research enriches the theory of open innovation ecosystem and product innovation theory. In addition, Xiaomi's product innovation development model proves that core companies can take the approach of building an open innovation ecosystem. It provides a powerful example for other companies in product innovation.