Xiaomi
Xiaomi Corporation, sometimes known as Xiaomi and officially registered as Xiaomi Inc., is a Chinese designer and producer of consumer electronics, home appliances, and other household goods, as well as related software. The firm is rated 338th and is the youngest company on the Fortune Global 500. It is the second-largest smartphone maker in the world after Huawei, with the majority of its devices running on the MIUI user interface, which is based on the Android operating system.
Lei Jun, a current multi-billionaire, and six senior partners launched Xiaomi in 2010 when he was 40 years old in Beijing. Lei developed both Kingsoft and Joyo.com, which he sold to Amazon in 2004 for $75 million. By 2014, Xiaomi held the largest market share of smartphones sold in China. Xiaomi introduced its first smartphone in August 2011. The business started out solely selling its goods online but eventually developed physical locations. It was creating a variety of consumer gadgets by 2015. The business sold 146.3 million smartphones in 2020, and MIUI, its mobile user interface, has more than 500 million active monthly users.
According to Counterpoint, Xiaomi will be the third-largest smartphone seller in the world by 2023, with a 12% market share. Because of its excellent contribution, people have begun referring to Xiaomi as the Apple of China. It has developed its own line of wearable accessories. Its equipment is equipped with cutting-edge technology. Using its Internet of Things and Xiaomi Smart Home product ecosystems, it is a significant maker of other products as well, including televisions, flashlights, unmanned aerial vehicles, and air purifiers.
By keeping the majority of its products on the market for 18 months—a longer period than other smartphone manufacturers—Xiaomi maintains pricing that is close to their manufacturing and bill of materials expenses. To keep its inventory low, the business also uses inventory optimization and flash sales.
Founded: 6 April 2010
Headquarters: Haidian District, Beijing, China
Website: https://www.mi.com/global/
