Very few companies have seen growth like Xiaomi. The Chinese startups become the world’s third largest smartphone maker within just three years of entering the market and it even push down Samsung to become the top-selling smartphone brand in China.
It’s single product focused coupled with Apple like style of presentation led many people to refer Xiaomi as Apple of China today the company seems to be evolving from one that launched the single smartphone at a time to a clearinghouse for all kind of products.
So how did this small shiny start have managed to blow up like this in just six years.
Let’s find out the year was April 2010 eight partners came together to cope on a smartphone startup called Xiaomi with an initial investment of an disclosed amount of dollars.
The name Xiaomi means millet in Chinese while need stands for mobile Internet show me cynical pen was not really building smartphone instead it focused on making custom room called mi UI based on Android with their own provided additional functionality to Android. It is like having its own app stores and easy to use music player and even cloud backups it was a breath of fresh air.
People absolutely doubt it that’s just any other successful company Tommy didn’t just stop there in 2011 Xiaomi launched its first phones the Xiaomi me one which become an instant hit to recall anyone was a top spec phone with a cheap price tag that too without compromising on quality or performance.
This has remained Xiaomi is philosophy from day one in 2012 sales increased by a whopping 2400 percentage with the launch of Xiaomi me to s and to a smartphone sales not it into Seoul exponentially. By the end of 2013 Xiaomi was valued at 10 billion dollars in August 2013 Xiaomi made a huge move and hired Hugo Barra former vice president of product management at Google. They got him on board as their new vice president to expand the company outside of China.
Xiaomi quickly expanded into new markets like Singapore Malaysia Philippines India Indonesia and Brazil not only smartphones Shamas product list actually includes a wide range of products.
In 2014 Xiaomi launched to me ban its first wearable fitness tracker priced aggressively at just $13 Xiaomi also made a move into the Internet of Things with the launch of internet connected means water purifier as well as add purifier the list also includes me Wi-Fi routers me-tv means setup box need cloud meetup messaging service fee for bank me USB fan me LED light and the list continues.
Now read about: Best Xiaomi Products 2019
Perhaps one of the most interesting products from Xiaomi is a drone called meat roam it is a quadcopter with 3 axis gimbal 4k camera and a remote control that uses your meat smartphone.
As we find out the 4k version retails at 460 dollars whereas the 1080p model is priced at for $80 for comparison the 4k camera drone from DJI retails called more than thousand dollars so photo show me pull this off is it losing money on every product it sells or doesn’t have an innovative strategy of its own.
When you are buying a device so I’m not just paying for the cost of raw material but also for a profit margin and the costs incurred in marketing and positioning and advertising now imagine a manufacturer that takes several parts out of the above equation does not believe in traditional advertising doesn’t have any retail store and device to sell all products online well.
That’s exactly what Xiaomi is doing shamak sells its products exclusively online this also ensures that it does not have to worry about the cost of warehousing and distribution Xiaomi also does not employ traditional models of advertising and depend solely on social media marketing show me in fact consider itself of mobile internet company according to Sean McQuade president Hugo Barra the company’s these heartless is as a means of delivering software and services it’s a business strategy similar to one adopted by ecommerce giant Amazon if you look at it broadly ShowMe combines and uses Apple’s tactics with Amazon strategy like Apple Xiaomi has bullets at a petition by launching one phone at a sign added to that the striking similarity between Apple’s iOS and Xiaomi chiamo UI has gonna show me the name Apple of China.
The fact that he will legion launch of the phone in typical speed of manners gave him the name Steve Jobs of China show me success is also due to its loyal fan base the company’s product announcement come off like rock concert and it’s very active on social media now let’s look at some of the fun facts about Xiaomi number one logo the mean the logo stands for mobile internet it also has other meanings including mission impossible because Xiaomi faced many challenges that had seemed impossible to defy Linux LG number 2 charming maskers sham it market is a bunny called me to the bunnies cap has a red star and it also gives a red scalp around its neck number 3 world record player.
Xiaomi set a new Guinness World Record for mobile phone sales by selling million handset in just 24 hours flashy number 4 most valuable started in December 2014 Xiaomi became the world’s most valuable tech startups after resuming billion dollars in funding from different universes making it quite a big billion-dollar company to put into perspective Xiaomi is worth nearly three times to learn a walk this is the world’s top TV maker and parent company of Motorola in spite of all the success Xiaomi seems to be struggling lately sales have plummeted since medical team and the company has failed to meet revenue target two years in a row this even made co-founder legion admit on social media that Sean had tried to expand too quickly all the past few years smartphone sales has fallen from stock market share to fourth part in China and is now ranked summoned globally
Xiaomi trades was based on one simple advantage it offered premium hardware and features a fraction of course offered by Apple or Samsung but soon the other Chinese manufacturers copied shammies business models and have started offering premium specifications at low price another reason for Chalmette struggling sales is because it didn’t invest enough in its offline channels instead of clear evidence that nearly 80% Chinese buy only in offline stores despite Xiaomi struggle in China its business in India has continued to growth since 2014.
Smartphone sales were up 150 percent year-on-year and an was revenue in the country recently passed 1 billion for the first time sum is now among the top 3 smartphone companies in the country in October last year Xiaomi surprised everyone with the launch of me mix at concept in phones with an almost better let’s display the mix both are fully ceramic body and a screen to body ratio of 91.3% which is almost perfect edge to edge to be precise the phone also didn’t feature a separate earpiece the whole display itself vibrate to produce the sound the phone and post a review and it’s a proof to show its innovative prominence even oneplus co-founder called big congratulate at Qdoba on this device chum is now focusing on five core areas technology the breakthrough new reader strategy globalization artificial intelligence and internet finance with a goal of fourteen point five billion dollars in revenue in 2017 Apple of China or not but one thing is for sure that Xiaomi has made significant strides into whichever market it has entered in a relatively short period of time and stats a testament of a successful company.
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