Xiaomi Corporation (/ami/; Chinese: ) is a Chinese multinational electronics firm located in Beijing. It was created in April 2010 and is registered in Asia as Xiaomi Inc. Xiaomi manufactures and invests in a wide range of products, including smartphones, mobile apps, laptops, home appliances, purses, shoes, consumer electronics, and more. Xiaomi is also the fourth firm in the world to have self-developed mobile system-on-chip (SoC) capabilities, behind Apple, Samsung, and Huawei.
Xiaomi launched its debut smartphone in August 2011 and quickly grew its market share in China, eventually becoming the country’s largest smartphone manufacturer by 2014. Xiaomi was the world’s fourth-biggest smartphone maker at the start of the second quarter of 2018, leading in both the largest market, China, and the second-biggest market, India. Xiaomi went on to build a broader variety of consumer electronics, including a smart home (IoT) product ecosystem with over 100 million smart gadgets and appliances linked. In September 2019, MIUI’s monthly active users (MAUs) reached 291.6 million.
Xiaomi employs 18,170 people worldwide. It has spread to additional markets such as Greater China, Singapore, Japan, South Korea, Russia, South Africa, and the majority of Southeast Asian and European nations and regions. Lei Jun, the creator and CEO, has a net worth of US$12.5 billion, according to Forbes. After collecting US$1.1 billion in capital from investors, Xiaomi is now the world’s 4th most valuable technological start-up, with a valuation of more than US$46 billion. Xiaomi, which is ranked 468th on the Fortune Global 500 list for 2019, is the youngest firm on the list. Xiaomi’s mobile phone shipments hit 125 million units in 2019, putting the company in fourth place globally for the first time since 2018. Since 2018, the firm has been listed on the Hong Kong Stock Exchange.
Hugo Barra, who formerly worked at Google as vice president of product management for the Android platform, joined the business in August 2013. Barra has declined to comment on the timing of the Google partnerships, but has claimed that he had been in negotiations with Xiaomi for more than a year before making the announcement. He was hired as Vice President of Xiaomi to help the firm develop outside of mainland China, making Xiaomi the first smartphone manufacturer to hire a top Google Android employee. Barra’s main goal was to assist Xiaomi in expanding abroad. Barra left his job in January 2017 to become the Vice President of Virtual Reality at Facebook.
Xiaomi CEO Lei Jun revealed plans to release an Android-based 47-inch 3D-capable Smart TV on September 5, 2013, which would be produced by Sony TV maker Wistron Corporation of Taiwan. The decision was made to take use of Wistron’s expertise as a Sony supplier, according to the business.
Xiaomi released the Mi 3 phone in September of 2013.
Xiaomi was the sixth most popular smartphone brand in China by October 2013.
Xiaomi sold 18.7 million smartphones in 2013.
Xiaomi launched its worldwide growth in 2014, with its first international headquarters in Singapore. There will be a base for future product launches and operations in the region. After Singapore, the firm expanded to Malaysia, the Philippines, and India, with ambitions to expand to Indonesia, Thailand, Russia, Turkey, Brazil, and Mexico in the months ahead.
Xiaomi’s Redmi and Mi 3 phones were released in Singapore on February 21, 2014. The Xiaomi Mi 3 batches in Singapore were sold out in just two minutes on the first day of sales.
Xiaomi Store Australia (an unaffiliated company) began selling Xiaomi smartphones in Australia through its website, XiaomiStore.com.au, in March 2014. However, they barely lasted a few months when Xiaomi “asked” that the store be closed on (or before) July 25, 2014. On August 7, 2014, the website was taken down shortly after sales were ceased. Xiaomi’s effort to shut down the Australian website was regarded as unusual by an industry observer, who said, “This is the first time I’ve heard of it. It’d have to be a calculated move.” There was just one online retailer selling Xiaomi phones into Australia at the time, Yatango (previously MobiCity), which was situated in Hong Kong, however this firm folded in late 2015.
Xiaomi CEO Lei Jun launched the Redmi Note phablet on March 17, 2014.
Xiaomi bought the Internet domain mi.com for a record US$3.6 million in April 2014, making it the most expensive domain name ever purchased in China, and it replaced xiaomi.com as the official Xiaomi domain.
Xiaomi said in November 2014 that it will invest $1 billion in television programming development.
Xiaomi completed a round of equity financing led by Hong Kong-based technology fund All-Stars Investment Limited, a fund run by former Morgan Stanley analyst Richard Ji, in December 2014, raising over US$1 billion, making it one of the world’s most valuable private technology companies with a valuation of over US$45 billion.
In 2014, the business sold over 60 million smartphones.
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