The Transformation of Strategies of Chinese ICT Corporations under the Emergence of the Country’s New Development Model

In 2014 president Xi Jinping proclaimed a concept of "new normal", which implied slower and more sustainable economic growth. The transformation of the economic model will directly influence the operation of ICT industry due to economic slowdown and structural shift of the sources of economic growth. This paper identifies the changes in the strategies of ICT corporations under new economic conditions. Due to the economic slowdown and heightened competition in the domestic markets, Chinese organizations tend to search for new markets in order to maintain their rate of profit. Chinese technological companies become more significant at the global arena as they become leaders in the market and technology. By the example of Lenovo and Xiaomi tendencies of companies' operations, similarities and differences were outlined. Due to slowdown of the main markets both companies are searching for new sources of growth and reach out for foreign markets (especially Brazil and India). Apart from entering foreign markets Lenovo and Xiaomi invest massively into R&D in order to develop new technologies of the third platform. Moreover, corporations started to use unusual marketing and sales channels, expanding their perspective client base.