- Founding: Xiaomi Inc. was founded in 2010 by Lei Jun and seven other co-founders, making it a relatively new company in the world of technology.
- Meaning of Xiaomi: The word ‘Xiaomi’ means ‘millet’ in Chinese. In the company’s early days, Lei Jun said it means “Xiao” for “little” and “mi” for “rice” – indicating that Xiaomi aims to start small and then work towards bigger goals.
- Fastest Growth: Xiaomi became the world’s fourth-largest smartphone maker just four years after its founding, demonstrating an impressive rate of growth.
- “Internet Company”: Xiaomi likes to position itself as an “internet company” rather than just a hardware company, highlighting its services and software ecosystem, like its MIUI user interface.
- Crowdsourcing Input: Xiaomi involves its user community in the development and refinement of its products by encouraging users to suggest changes or features they’d like to see in MIUI.
- Flash Sales: In its early days, Xiaomi sold its phones through weekly flash sales. The limited availability created a sense of urgency among consumers and helped generate buzz around the brand.
- No Physical Stores: Initially, Xiaomi sold its products exclusively online to cut costs. It was only in recent years that the company started opening physical retail stores.
- Record-breaking Sales: Xiaomi holds Guinness World Records for the most mobile phones sold on a single online platform within 24 hours – selling 2.11 million phones on China’s Singles Day (an online shopping holiday) in 2014.
- Product Range: In addition to smartphones, Xiaomi also produces a wide range of smart devices, including smart TVs, wearables, drones, and home appliances. It even makes lifestyle products like shoes, bags, and fitness equipment.
- Robot Vacuum Cleaners: Xiaomi is a leading player in the robot vacuum cleaner market. Its Mi Robot Vacuum Cleaner is popular for its affordability and advanced features.
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