Xiaomi Corporation (/ˈʃaʊmi/;[2] Chinese: 小米), commonly known as Xiaomi and registered as Xiaomi Inc., is a Chinese designer and manufacturer of consumer electronics and related software, home appliances, automobiles and household hardware. It is the second-largest manufacturer of smartphones in the world, behind Samsung,[3] most of which run on the MIUI (now HyperOS) operating system, which is based on the Android operating system. The company is ranked 338th and is the youngest company on the Fortune Global 500.[4][5]
Xiaomi stores
In Qingdao, China
In Loulé, Portugal
In Hangzhou, China
Xiaomi was founded in 2010 in Beijing by Lei Jun along with six associates. Lei had founded Kingsoft as well as Joyo.com, the latter of which he sold to Amazon for $75 million in 2004. In August 2011, Xiaomi released its first smartphone and, by 2014, it had the largest market share of smartphones sold in China. Initially the company only sold its products online; however, it later opened brick and mortar stores.[6] By 2015, it was developing a wide range of consumer electronics.[7] In 2020, the company sold 149.4 million smartphones and its MIUI (now HyperOS) mobile operating system has over 500 million monthly active users.[8] As of 2023, Xiaomi is the third-largest seller of smartphones worldwide, with a market share of about 12%, according to Counterpoint.[9] Its presence led some people to call Xiaomi the "Apple of China".[10] It has come up with its own range of wearable items.[11] It also is a major manufacturer of appliances including televisions, flashlights, unmanned aerial vehicles, and air purifiers using its Internet of things and Xiaomi Smart Home product ecosystems.
Xiaomi keeps its prices close to its manufacturing costs and bill of materials costs by keeping most of its products in the market for 18 months, longer than most smartphone companies.[12][13] The company also uses inventory optimization and flash sales to keep its inventory low.[14][6]
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^"The China Smartphone Market Picks Up Slightly in 2014Q4, IDC Reports". IDC. 17 February 2015. Archived from the original on 17 February 2015.
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^"Global Smartphone Market Share: Q4 2020 to Q4 2022". Counterpoint Research. 8 February 2023. Archived from the original on 17 August 2018. Retrieved 1 March 2023.
^Saiidi, Uptin (10 September 2019). "The 'Apple of China' expanded into 80 new markets in four years. Here's how Xiaomi grew so rapidly". CNBC. Archived from the original on 21 September 2019. Retrieved 10 September 2019.
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