Headquartered in China in Beijing, Xiaomi has established itself as one of the world’s leading mobile phone manufacturers, claiming to have shipped over 65 million handsets in a single year.
Despite being a very new company formed in 2010, the company has manifold its business not only across China, but has penetrated the global market in the smart phones segment. The company has a strong workforce of 8000+ people employed with the organization.
Xiaomi has constantly become a force to reckon with especially after receiving a big investment boost of USD 1.1 billion, taking its overall valuation over 45 billion USD. It has managed to tap big markets like China, India etc where it is focusing on playing the volume game, thereby enabling them to sell products in a huge volume. The company also has significant presence in Singapore, Thailand, Turkey, Brazil and other European countries.
The company has a unique business model where it focuses on giving high quality offerings to its customers at reduced prices. It also offers apps, complementary products etc which help the brand generate more revenue. Another thing which helps the company reduce costs is that is sells phones only online and does not have retail outlets. The product portfolio if Xiaomi phones consists of popular brands like the ones mentioned below:
- Mi Series
- RedMi Series
There are several variants and feature-enabled phones from the above mentioned series.
The company has been able to reach out to its customers through branding efforts, which have bene unique and effective. The logo of the brand “MI” is actually a short form for Mobile Internet. Apart from smartphones, the company has been increasing its rach and sales volume in smart watches as well as tablets.