https://techcrunch.com/2020/01/17/xiaomi-spins-off-poco-as-an-independent-brand/

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.