XIOMI COMAPNY

 XIOMI COMPANY.

Xiaomi Corporation commonly known as Xiaomi and registered in Asia as Xiaomi Inc., is a Chinese designer and manufacturer of consumer electronics and related software, home appliances, and household items. Behind Samsung, it is the second largest manufacturer of smartphones in the world, most of which run the MIUI operating system. The company is ranked 338th and is the youngest company on the Fortune Global 500.

Xiaomi was founded in 2010 in Beijing by now multi-billionaire Lei Jun when he was 40 years old, along with six senior associates. Lei had founded Kingsoft as well as Joyo.com, 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. By 2015, it was developing a wide range of consumer electronics.In 2020, the company sold 146.3 million smartphones and its MIUI operating system has over 500 million monthly active users. In the second quarter of 2021, Xiaomi surpassed Apple Inc. to become the second-largest seller of smartphones worldwide, with a 17% market share, according to Canalys. 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, The company also uses inventory optimization and flash sales to keep its inventory low.

In February 2014, Xiaomi announced its expansion outside China, with an international headquarters in Singapore.

In April 2014, Xiaomi purchased the domain name mi.com for a record US$3.6 million, the most expensive domain name ever bought in China, replacing xiaomi.com as the company's main domain name.

In September 2014, Xiaomi acquired a 24.7% stake in Roborock.

In December 2014, Xiaomi raised US$1.1 billion at a valuation of over US$45 billion, making it one of the most valuable private technology companies in the world. The financing round was led by Hong Kong-based technology fund All-Stars Investment Limited, a fund run by former Morgan Stanley analyst Richard Ji.

In 2014, the company sold over 60 million smartphones.[39] In 2014, 94% of the company's revenue came from mobile phone sales.

In April 2015, Ratan Tata acquired a stake in Xiaomi.

On 30 June 2015, Xiaomi announced its expansion into Brazil with the launch of locally manufactured Redmi 2; it was the first time the company assembled a smartphone outside of China. However, the company left Brazil in the second half of 2016.

In April 2018, Xiaomi announced a smartphone gaming brand called Black Shark. It had 6GB of RAM coupled with Snapdragon 845 SoC, and was priced at $508, which was cheaper than its competitors.

On 2 May 2018, Xiaomi announced the launch of Mi Music and Mi Video to offer "value-added internet services" in India. On 3 May 2018, Xiaomi announced a partnership with 3 to sell smartphones in the United Kingdom, Ireland, Austria, Denmark, and Sweden.