|北京小米科技有限责任公司 (Beijing Xiaomi Technology Company Limited)|
|Founded||6 April 2010|
|Headquarters||Haidian District, Beijing, China|
|Lei Jun (CEO)
Lin Bin (林斌)(President)
Manu Jain (Managing Director, Xiaomi India)
Smart home devices
|Revenue||US$18 billion (2017)|
Number of employees
Mi.com - International
|Literal meaning||"millet [technology]"|
Xiaomi Inc. ([ɕjǎu.mì] ( 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.
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. As of the start of Q2 of 2018, Xiaomi is the world's 4th largest smartphone manufacturer.  Xiaomi has expanded into developing a wider range of consumer electronics, including a smart home (IoT) device ecosystem.
Xiaomi has 15,000 employees in China, India, Malaysia, Singapore and is expanding to other countries such as Indonesia, the Philippines, and South Africa. 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.
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.
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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"; 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"; and No. 35 in the list of the Most Innovative Companies 2014 compiled by The Boston Consulting Group.
Stratechery writer Ben Thompson notes in his article "Xiaomi's Ambition" 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.
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.
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