Xiaomi, a renowned Chinese electronics company, has garnered a dedicated fan base by offering high-grade products infused with cutting-edge technology at reasonable prices. With a strong presence in over 100 countries and regions, Xiaomi quickly established itself as the world’s most valued tech startup in 2014. Notably, in 2021, Xiaomi secured the 70th position on the prestigious Top 100 Most Valuable Global Brands list by Kantar BrandZ.
Xiaomi Company Highlights
| Startup Name | Xiaomi |
| Headquarters | Beijing, China |
| Sector | Consumer Electronics |
| Founders | Lei Jun |
| Founded | April 2010 |
| Total Funding | $7.4 Billion |
| Revenue/Turnover | RMB 76.9 billion, YoY growth 54.7% (Q1 2021) |
| Adjusted Net Profit | RMB 6.1 billion, YoY growth 163.8% (Q1 2021) |
| Parent Organization | Xiaomi.Inc |
| Website | www.mi.com |
Xiaomi: Delivering Quality Products at Affordable Prices
Xiaomi, a renowned Chinese electronics company, has garnered a dedicated fan base by offering high-grade products infused with cutting-edge technology at reasonable prices. With a strong presence in over 100 countries and regions, Xiaomi quickly established itself as the world’s most valued tech startup in 2014. Notably, in 2021, Xiaomi secured the 70th position on the prestigious Top 100 Most Valuable Global Brands list by Kantar BrandZ.
Best-Selling Phones and Guinness World Record
Xiaomi’s popularity soared in India, where it consistently achieves year-on-year growth. The company dominates the list of best-selling phones in the country. In fact, Xiaomi India made history by setting a Guinness World Record for constructing the world’s largest light mosaic (logo) consisting of 9,690 bulbs. This remarkable achievement can be found adorning the terrace of Xiaomi’s head office in Bengaluru. Let’s explore more intriguing details about Xiaomi.
Diverse Product Range and Active Userbase
Founded in April 2010 by Lei Jun in Beijing, China, Xiaomi has evolved into one of the top five smartphone vendors globally. Its impressive product lineup includes the Mi Series, Mi Note Series, Mi Max Series, Mi Mix Series, Mi NoteBook Series, Redmi Series, Blackshark, and Pocophone. Xiaomi boasts approximately 291.6 million active users who benefit from regular MIUI updates. Moreover, the company offers an array of products, such as laptops, mobile apps, mobile accessories, wearables, home appliances, and smart-home devices.
Xiaomi – Founders/Owners
Lei Jun, the founder, CEO, and President of Xiaomi, has played a pivotal role in shaping the company’s success. He holds a degree in computer science from Wuhan University and began his career as an engineer at Kingsoft in 1992. Eventually, Lei Jun became the CEO of Kingsoft in 1998. Despite resigning from Kingsoft in 2007 due to health reasons, he continued his entrepreneurial journey by founding Joyo.com, an online bookstore that was later acquired by Amazon.com in 2004.
Lin Bin, another co-founder and the President of Xiaomi, brings a wealth of experience to the table. He is a graduate of radio electronics and has worked with renowned companies such as ADP, Microsoft, and Google. Lin Bin’s expertise and global perspective contribute to Xiaomi’s strategic direction. He is also a member of the board of advisors at Tufts University School of Engineering.
Dr. Zhou Guangping, a Ph.D. holder in Electrical Engineering, has an impressive background in the tech industry. Before joining Xiaomi, he worked at Motorola and held several key positions within the company. Currently, Dr. Zhou leads the hardware and BSP (Board Support Package) teams at Xiaomi, contributing to the company’s technological advancements.
Liu De, an expert in Industrial design with an M.S. degree, has made significant contributions to Xiaomi’s design philosophy. He established the Industrial Design Department at the University of Science and Technology Beijing and founded ‘New Edge,’ an Industrial Design Company, in 2003. At Xiaomi, Liu De oversees the industrial design and Ecosystem Development teams, shaping the visual appeal and user experience of Xiaomi’s products.
Li Wanqiang is recognised as one of China’s early UI (User Interface) and HCI (Human-Computer Interaction) experts. After completing his graduation in Industrial Engineering, he joined Kingsoft, where he led various significant software projects. Li Wanqiang joined Xiaomi as a co-founder in 2010, contributing his expertise in UI and HCI to enhance the user experience of Xiaomi’s products.
Wong Kong-Kat, a computer science graduate, worked at Microsoft from 1997 to 2010 before joining Xiaomi. He now oversees the Mi wifi and Mi Cloud teams, playing a crucial role in the development and optimisation of Xiaomi’s network and cloud services.
Hong Feng, with a post-graduate degree in computer science, has a strong background in software engineering and product management. He began his career at Siebel Systems as a Lead Software Engineer and later joined Google China, where he played a key role in developing localised products such as Google Music and Google Pinyin Input. Currently, Hong Feng leads the MIUI division at Xiaomi, driving innovation in the company’s user interface and software ecosystem.
Chuan Wang, a seasoned entrepreneur, founded Thunderstone Technology in 1997, which became the largest VOD (Video on Demand) system provider in China. In 2007, he founded Beijing Duokan Technology, a digital book company, where he serves as CEO. Chuan Wang joined Xiaomi in 2012 as a co-founder and Vice President, overseeing the Mi TV and Mi Box teams, contributing to Xiaomi’s expansion into the smart TV market.
From Smartphones to Lifestyle Products
Beyond smartphones, Xiaomi has expanded its product portfolio to include a diverse range of accessories. Customers can now enjoy Xiaomi-branded caps, bags, glasses, backpacks, as well as everyday items like lunchboxes, pillows, cups, filters, umbrellas, and screwdrivers.
Mi Credit and Value-Added Internet Services
In 2018, Xiaomi introduced Mi Credit in India, enabling easy access to personal loans for users. Additionally, the company provides a variety of value-added internet services, including ‘Mi Music,’ ‘Mi Video,’ and ‘Mi Game,’ enhancing the overall Xiaomi experience.
From Smartphones to Internet Services
Xiaomi generates its primary revenue from smartphone sales, followed by Internet of Things (IoT) and lifestyle products. In 2018, the company sold an impressive 119 million smartphones. Approximately 25% of Xiaomi’s revenue is derived from IoT and lifestyle products, encompassing a wide range of smart devices like TVs, electric scooters, vacuum cleaners, cameras, and more. Xiaomi’s internet-based services also contribute significantly to its revenue, with pre-loaded apps, subscription-based TV shows, movies, games, and advertisement services playing a crucial role.
Rising Sales and Global Workforce
Xiaomi has experienced steady growth in sales and product diversification, currently employing around 22,074 professionals worldwide. Despite challenges posed by the COVID-19 pandemic, Xiaomi managed to achieve sound sales in the first quarter of 2020, outperforming other top smartphone brands with a 1.4% year-on-year growth.
Innovation for Everyone
Xiaomi’s vision revolves around making quality technology accessible to all, reflecting their motto of “Innovation for everyone.” Looking ahead, Xiaomi aims to strengthen its position in the premium smartphone segment by focusing on the development of 5G smartphones. Additionally, the company plans to invest heavily in AIoT (Artificial Intelligence of Things) to further expand its product offerings. Xiaomi India Head, Manu Jain, remains optimistic about the company’s prospects in India despite recent sentiments against China-made goods. Xiaomi’s commitment to local production, with factories in Andhra Pradesh, Tamil Nadu, and Noida, along with plans for exports, reflects their dedication to the Indian market.
With a strong foundation and a customer-centric approach, Xiaomi continues to redefine the boundaries of affordability and innovation in the tech industry.
