The Xiaomi Pocophone F1 was a whirlwind success shaking up the smartphone market and blurring the lines between affordable mid-range phones and flagships. It was more than just a flagship killer like many brands try and claim, the price was far lower than what you see today from the likes of Realme or other Xiaomi phones. You did make a lot of sacrifices though, it lacked NFC meaning no Google Pay, the screen and camera were not great, but you always have to make some sacrifices with affordable phones.
People were expecting a following up phone un 2019, but this never materialised, some speculated that the Xiaomi Redmi K30 Pro would end up being rebranded Pocophone F2 for the Indian market, but this was inaccurate.
Recently, news and rumours have been ramping up, with various references to the Pocophone F2 popping up online, and the biggest leak being a trademark application recently. The filing actually referred to the Poco F2, which is likely the name that will be used in the Indian market, whereas global will be named Pocophone F2.
Now, Manu Kumar Jain, the global VP of Xiaomi, has announced that Poco is separating from Xiaomi to become their own independent brand. Nothing else is revealed here, but it is clear they are not killing off the Poco name and it is inevitable a follow-up phone will launch.
What they mean by being its own brand is another question, it will likely be owned by the Xiaomi parent company, they will also almost certainly share much of the hardware and use the same OS. So for end-users, it will likely be the same thing, but as a business, I would assume they have some autonomy over the decisions they make about the company and phone design.