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Coordinates: 39°55′32″N 116°26′30″E / 39.9255°N 116.4416°E / 39.9255; 116.4416

Xiaomi
Native name
北京小米科技有限责任公司 (Beijing Xiaomi Technology Company Limited)
Private
Industry Consumer electronics
Computer hardware
Founded 6 April 2010; 8 years ago (2010-04-06)
Founder Lei Jun
Headquarters Haidian District, Beijing, China
Area served
Selected markets
Key people
Lei Jun (CEO)
Lin Bin (林斌)(President)
Manu Jain (Managing Director, Xiaomi India)
Products Mobile phones
Smartphones
Tablet computers
Smart home devices
Laptops
Smart TV
Revenue Increase US$18 billion (2017)
Number of employees
Approximately 15,000[1]
Subsidiaries Huami
Mijia
Aqara
Yeelight
Blackshark
Website Mi.com
Mi.com - International
Xiaomi
Chinese 小米
Literal meaning "millet [technology]"

Xiaomi Inc. ([ɕjǎu.mì] (About this sound listen); Chinese: 小米) is a Chinese electronics company headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, and related consumer electronics.[2]

Xiaomi released its first smartphone in August 2011 and has rapidly gained market share in China to become China's largest smartphone company in 2014.[3] As of the start of Q2 of 2018, Xiaomi is the world's 4th largest smartphone manufacturer. [4][5] Xiaomi has expanded into developing a wider range of consumer electronics, including a smart home (IoT) device ecosystem.[6][7][8][9]

Xiaomi has 15,000 employees[10] in China, India, Malaysia,[11] Singapore and is expanding to other countries such as Indonesia, the Philippines, and South Africa.[12][13] Lei Jun, the founder and CEO, has an estimated net worth of US$6.8 billion. He is China's 24th richest person in 2017. Xiaomi is the world's 4th most valuable technology start-up after receiving US$1.1 billion funding from investors, making Xiaomi's valuation more than US$46 billion.[14]

History[edit]

Products[edit]

Xiaomi has produced many products. Notably, they produce smartphones which run on the own version of Android MIUI. They have numerous lines of smartphones including; Mi Series, Mi Note Series, Mi Max Series, Mi Mix Series and the Redmi Series. They also offer tablets, laptops and other wearable and smart home devices on their web store.

Recognition[edit]

Xiaomi is ranked number 2 on the list of 50 Smartest Companies 2015 by MIT Technology Review, which noted in the publication that "the fast-growing smartphone vendor is maturing beyond its original 'cut-price Apple' model with ideas like flash sales over its mobile messaging platform";[15] No. 3 in the list of Most Innovative Companies 2014 by Fast Company, "for reinventing the smartphone business model in the world's largest mobile market";[16] and No. 35 in the list of the Most Innovative Companies 2014 compiled by The Boston Consulting Group.[17]

Xiaomi's innovative business model has been characterized as a disruptive force to the existing smartphone industry by a number of commentators.[18][19][20][21]

Stratechery writer Ben Thompson notes in his article "Xiaomi's Ambition"[22] that Xiaomi's target consumer base is the young population of China, especially college students and young adults who just entered the workforce. As they get places of their own, they will need TVs, air purifiers, etc., things that Xiaomi sells along with the smartphones. He then notes:

This, then, is the key to understanding Xiaomi: they’re not so much selling smartphones as they are selling a lifestyle, and the key to that lifestyle is MIUI, Xiaomi's software layer that ties all of these things together.

In fact, you could argue that Xiaomi is actually the first "Internet of Things" company: unlike Google (Nest), Apple (HomeKit), or even Samsung (SmartThings), all of whom are offering some sort of open SDK to tie everything together (a necessity given that most of their customers already have appliances that won’t be replaced anytime soon), Xiaomi is integrating everything itself and selling everything one needs on Mi.com to a fan base primed to outfit their homes for the very first time. It's absolutely a vertical strategy – the company is like Apple after all – it's just that the product offering is far broader than anything even Gene Munster could imagine. The services Lei Jun talks about – MIUI and Mi.com especially – sell the products and tie them all together, but they are all Xiaomi products in the end.[22]

Guinness Record Achievement[edit]

Xiaomi celebrated its 5th birthday on 6 April 2015 with the Mi Fan Festival, which includes an online shopping day with offers and discounts. Xiaomi managed to break the world record for "most mobile phones sold on a single online platform in 24 hours", by selling 2,112,010 handsets through its direct-to-customer website Mi.com.[23]

Gallery[edit]

See also[edit]

References[edit]

  1. ^ "About Us". mi.com. 5 June 2014. Archived from the original on 30 May 2014. Retrieved 5 June 2014. 
  2. ^ 小米47寸电视真机照曝光 (in Chinese). MyDrivers.com. 17 June 2013. Archived from the original on 25 August 2013. Retrieved 15 August 2013. 
  3. ^ "The China Smartphone Market Picks Up Slightly in 2014Q4, IDC Reports". IDC. Archived from the original on 17 February 2015. Retrieved 18 February 2015. 
  4. ^ "IDC: Xiaomi ends Q1 2018 as the fourth largest smartphone brand in the world". Notebook Check. Archived from the original on 7 May 2018. Retrieved 7 May 2018. 
  5. ^ "A Slowdown in China Drags the Worldwide Smartphone Market to a Year-over-Year Decline of 2.9% in Shipments During the First Quarter of 2018, According to IDC". IDC. Archived from the original on 7 May 2018. Retrieved 7 May 2018. 
  6. ^ Bischoff, Paul. "Xiaomi unveils sensor panels for its smart home ecosystem". Tech in Asia. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  7. ^ Lococo, Edmond (18 January 2015). "Xiaomi Unveils Smart Home Suite With Security Features". Bloomberg Business. Archived from the original on 22 February 2015. Retrieved 18 February 2015. 
  8. ^ Kan, Michael. "Xiaomi looks beyond smartphones to smart home products". PC World. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  9. ^ Song, Huei. "XIAOMI ANNOUNCES NEW SMART HOME GADGETS – WEBCAM, POWER PLUG, LIGHTBULB AND REMOTE CENTER". lowyat.net. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  10. ^ "User Agreement". miui.com. Archived from the original on 6 June 2014. Retrieved 5 June 2014. 
  11. ^ Eilers, Chris (24 June 2014). "How China's Xiaomi Beats Huawei in Malaysia". Oizoioi Malaysia Tech Blog. Archived from the original on 28 June 2014. Retrieved 28 June 2014. 
  12. ^ Russell, Jon (30 June 2015). "Xiaomi Expands Its Empire To Brazil, Will Sell First Smartphone There July 7". Tech Crunch. Archived from the original on 2 July 2015. 
  13. ^ Shu, Catherine (28 August 2013). "Xiaomi, What Americans Need To Know". TechCrunch. AOL. Archived from the original on 30 August 2013. Retrieved 28 August 2013. 
  14. ^ "Xiaomi raises another $1.1 billion to become most-valuable tech start-up". 29 December 2014. Archived from the original on 3 March 2016. 
  15. ^ "50 SMARTEST COMPANIES 2015". MIT Technology Review. Retrieved 25 June 2015. 
  16. ^ "Most Innovative Companies 2014". Fast Company. Archived from the original on 19 February 2015. Retrieved 18 February 2015. 
  17. ^ "The Most Innovative Companies 2014" (PDF). The Boston Consulting Group. Retrieved 18 February 2015. 
  18. ^ Li, Nicole (4 June 2014). "Innovation, China Style: How Xiaomi is stepping up to challenge Samsung & Apple". Face Group. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  19. ^ Sampere, Juan Pablo Vazquez. "Xiaomi, Not Apple, Is Changing the Smartphone Industry". Harvard Business Review. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  20. ^ Nunes, Paul; Downes, Larry. "Big Bang Disruption: How China's Xiaomi Manages Catastrophic Success". Forbes. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  21. ^ Jacky. "Xiaomi is the world's third most innovative company; "Made in China" now a compliment". Vulcan Post. Archived from the original on 18 February 2015. Retrieved 18 February 2015. 
  22. ^ a b Thompson, Ben (7 January 2015). "XIAOMI'S AMBITION". Stratechery. Archived from the original on 13 March 2015. Retrieved 2 March 2015. 
  23. ^ Lynch, Kevin (9 April 2015). "Mi.com sells 2 million smartphones in a day to set sales world record". Guinness World Record. Archived from the original on 15 April 2015. 

External links[edit]

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