Xiaomi Corporation is a China-based company engaged in manufacturing high-end smartphones, set-top boxes, smartphone software, mobile phones, smart devices, and other accessories. The company develops its own operating system – MIUI. In addition, the company develops and offers a wide range of consumer electronics, including a smart home (IoT) device ecosystem. Currently, Xiaomi Corporation is the world’s fourth-largest smartphone brand and has established the world’s largest consumer IoT platform with over 150.9 Million smart devices (excluding laptops and smartphones) connected to its platform.
Product Details:
- Audio equipment – Headphones, Wireless Earphones, and Bluetooth speaker
- Smartphones – Flagship: Mi 11, Mi 11X 5G, Mi 11 Ultra and Mi 11 Lite, Popular budget model Redmi Xiaomi Poco F3, Mi Note 10 Pro Max, Mi Note 10 Pro, Mi Note 10S, Mi Note 10T 5G, Top model Xiaomi Mi MIX (3) and others
- Wearables – Fitness tracker Mi Band 6, Mi Band 5, and others
- Cameras – Xiaomi YI Cam YI 4K/4K+ (by YI Technology) and Dashcams and IP-Cams
- Laptops & Tablets – Mi Notebook Pro, Mi Notebook Ultra, Mi Notebook 14, RedmiBook 15 Pro, RedmiBook 15 e-Learning, and Mi Pad 2/3
- E-Scooter – Mi Electric Scooters 3, Mi Electric Scooters 2, Mi Electric Scooters 2 Pro, and others
- Mi Home-Product – Vacuum Robots, Televisions, Door & Window Sensors, Mi Smart Electric Toothbrush T500, Mi Smart LED Bulb, and Lamps, other home products
Financial Highlights:
- The company’s overall revenue increased from US$ 30796.1 Mn in 2019 to US$ 35152.5 Mn in 2020, which was an incline of 14.1%
- The smartphones segment increased from US$ 18,566.7 Mn in 2019 to US$ 21,651.5 Mn in 2020, which was an incline of 14.2%
- The IoT and lifestyle products segment revenue increased from US$ 9,441.6 Mn in 2019 to US$ 9,590.2 Mn in 2020, which was an incline of 1.5%
- The Internet services segment’s revenue increased from US$ 3,017.3 Mn in 2019 to US$ 3,379.6 Mn in 2019, which was an incline of 10.7%
- The other segment’s revenue increased from US$ 275.88 Mn in 2019 to US$ 356.9 Mn in 2020, which was an incline of 22.7%
Business Segments:
The company operates through four business segments namely: Smartphones, IoT & Lifestyle Products, Internet Services, and Others
- Smartphones – The company offers several flagship smartphone models such as Mi, Mi MIX, Redmi Note, and others
- IoT and lifestyle products – Offers a wide range of home appliances such as Mi Air Conditioner, Mi Washing Machine, Mi Band, Mi Electric Scooter, Mi Robot Vacuum Cleaner, and many others
- Internet Services – Offers Internet services overseas and domestically, Youpin e-commerce platform, and TV Internet services
- Others – Provides out-of-warranty service and hardware repair services for its products
History:
- April 2010: Lei Jun along with six co-founders founded Xiaomi corporation, and launched its Android-based firmware MIUI
- August 2011: The company launched its first smartphone – Xiaomi Mi1 with MIUI firmware.
- August 2012: The company introduced its second smartphone, Xiaomi M2.
- November 2012: Xiaomi TV Box launched.
- September 2013: The company launched its third smartphone; Mi3 and MiTV.
- March 2014: RedMi Note Phablet (Hybrid of Phone and Tablet) launched.
- June 2014: The company launched Mi Pad.
- July 2014: The company introduced Fitness Tracker Mi Band and Smartphone Mi4.
- August 2014: Smartphone Mi4i launched.
- January 2015: Xiaomi Note was launched.
- August 2015: The company launched Redmi Note 2, and YI Camera.
- July 2015: 4K TV and water purifier launched.
- November 2015: The company launched in-ear headphones.
- February 2015: Launched Mi5 smartphone.
- June 2015: The company launched Mi Band 2.
- August 2015: Mi Max, Mi Robot Vacuum, Mi Notebook Air, and Mi Drone launched.
- February 2016: The company launched Mi 5 smartphone and Redmi Note 3.
- April 2017: The company launched Mi 6, and Mi Max 2.
- September 2017: Launched Mi A1, which is the first Android smartphone under the slogan: Created by Xiaomi, Powered by Google.
- March 2018: At the China Annual Legislative Conference in Beijing in March 2018, Xiaomi CEO Lei Jun announced that it “has been considering entering the US market” and will be launched in the US smartphone market in late 2018 or early 2019. The United States, such as power banks and Bluetooth speakers.
- April 2018: The company launched the Mix 2S model, which is a successor of Mix 2, and Mi 6X as a successor of Mi 5X.
- March 2019: Xiaomi cooperated with AMTD Group to obtain one of eight virtual bank licenses in Hong Kong. The company also launched the Mi 9 mobile phone with a fingerprint scanner on the display.
- October 2020: Xiaomi’s shipments have surpassed Apple, becoming the world’s third-largest smartphone manufacturer, shipping 46.2 million mobile phones in the third quarter of 2020. In December 2020, Xiaomi launched its next flagship Xiaomi Mi 11.
- January 2021: Xiaomi launched its next flagship smartphone (Xiaomi Mi 10i 5G).
- March 2021: Redmi a Brand of Xiaomi launched its Note 10 flagship smartphone (Note 10, Note 10 Pro, and Note 10 Max).
- June 2021: Xiaomi launched its laptop Mi Notebook 14.
Recent News
- August 2021: Xiaomi Corporation has become a licensee and community member of OIN, as per an announcement by Open Invention Network (OIN), the largest patent non-aggression community in history.
- August 2021: InterDigital, Inc., a mobile and video technology research and development company, today announced it has entered into a multi-year, worldwide, non-exclusive, royalty-bearing license.
- August 2021: Xiaomi Corporation gained a market share of 25.3% in the Europe market in the second quarter of 2021, as it sold nearly 12.7 million units of smartphones across various European countries.
Xiaomi Achievements in 2020-2021
- March 2021: Xiaomi Corporation announced their plans to launch smart electric vehicles, the company will initially invest approx. 1.5 Bn USD and this investment will increase to 10 Bn USD over the course of the next decade.
Xiaomi Strategy
- The company follows a strategy of “Develop hand in hand with customers and act responsibly to the environment and products”, incorporating circular economy concepts into product design, which is a prerequisite for minimizing environmental impact.
- Use renewable and recyclable materials that are free from hazardous substances for product designs.
- In the supply chain, the company is dedicated to responsible business practices and to high standards of ethical behavior. The company provides high standards of excellence defined in governing laws and recognized international standards and conventions to their suppliers.
- In the production process, refuse to bring any hazardous substances into products.
- In the future, Xiaomi will reduce the use of hazardous substances in products.
Xiaomi Facts
- Xiaomi is often referred to as the “Apple” of China.
- Xiaomi means “little rice” in Chinese, XIAO– “LITTLE”, MI – “RICE”.
- In April 2014, Xiaomi paid US$ 3.6 Million for the domain name MI.COM.
- In August 2011, Xiaomi developed its own version of android called MIUI.
- Xiaomi sold 18.7 Million smartphones in 2013.
- Xiaomi successfully ranks 426th in Forbes’ 2019 Global 2000 list.
- Currently, Xiaomi has around 300 stores in China. In comparison, Apple has around 500 stores worldwide.
- Guinness World Record: In India, they sold the Mi3 smartphone 15,000 times within two seconds.
- The Xiaomi logo contains a hidden word. Turned upside down, it resembles the Chinese character for heart.
