Xiaomi Inc. is a privately owned Chinese electronics company headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, and related consumer electronics. It is the world’s 5th largest smartphone maker now. It deals with consumer electronics as well as Computer hardware. Xiaomi’s innovative business model has been characterised as a disruptive force to the existing smartphone industry over the market.
The company founded on 6 April 2010; 8 years ago. The founder is Lei Jun. It headquartered in Haidian district, Beijing. Xiaomis products are covered almost around the globe. It raised its presence in 21countries.They are Mainland China, Bangladesh,Egypt, European Union, Hong Kong, India, Indonesia xiaomi has various products notably they produce Smartphones which run own the own version MIUI.They have numerous lines of Smartphones including Mi series, Mi note series, Mi Max series, Mi mix series and Redmi series.They also offer tablets, laptops and other wearable and smart home devices n their web store.
Xiaomi released its first smartphone in August 2011 and has rapidly gained market share in China to become China’s largest smartphone company in 2014. As of the start of Q2 of 2018, Xiaomi is the world’s 4th largest smartphone manufacturer. Xiaomi has expanded into developing a wider range of consumer electronics, including a smart home (IoT) device ecosystem.Xiaomi celebrated it’s fifth birthday on 2015 April 6 the with Mi fan festival with offers and discounts. The brand managed to break the world record for” most mobile phones sold on a single online platform with in 24 hours”. They sold 2,112,010 handsets through it’s direct customer website Mi.com.
Xiaomi has 15,000 employees in China, India, Malaysia, Singapore and is expanding to other countries such as Indonesia, the Philippines, and South Africa. Lei Jun, the founder and CEO, has an estimated net worth of US$6.8 billion. He is China’s 24th richest person in 2017. Xiaomi is the world’s 4th most valuable technology start-up after receiving US$1.1 billion funding from investors, making Xiaomi’s valuation more than US$46 billion.
Xiaomi has entered the tech market at the time of tough competition. Apple,HTC, Samsung etc were the leading brands xiaomi has to compete with.The main reason behind the incredible market share of Xiaomi was the lower prices.In the case of mobile phones everyone cannot afford iPhones,or Samsung.Here Mi offers almost half the price phone s with all the extensiv e features.But the cost never compramises with it’s quality.
Uses better quality hardwares and build materials.They are ysing the smart dragon procesdors which are said to be the best for smart phones. They can keep the low prices because their products reaches directly to the consumer through online stores.No offline stores and extra xiaomi doesn’t spend money on advertising,it uses social networks and good reviews from customers mouth itself.It helps the brand to save a lot of money.The camera is decent to excellent compared to others.A mobile which is fully made of metal at this price is incredible.we can underline the Xiaomi’s key features like
- Low price
- Premium hardwares and build quality
- Great camera
- Highly coustamizable Android based Os
- No warranty viod on rooting
- Removab like e or no bloatware
Then comes to Xiaomi’s Indian market,today it is the leading smartphone maker intends to keep it’s start up culture and expands to new product varieties.Xiaomi enters India four years ago and became the second largest market. This Chinese company doesn’t defined performance parameters or sales targets for 400 plus employees in India.In the consumer electronics industry this makes a rapid increase in sales.Their offce is shifted to Bangaluru recently.There are no key result areas or key performance indicators in the market.Even though they are the crucial Hr parameters companies set to assess the employees performance.In this industry they consider factors such as revenue growth, expansion and growth of retail network, cost of logistics, inventory etc.
Xiaomi can probably sustain in this culture for another year or two since the team is still small compared to other brands. Xiaomi overtook Samsung with a 26.8percent share in market.Tbe company is sure to maintain this tempo in 2018 also and already in an expansion stage.They are planning to start offline stores also. Anyways Xiaomi’s entrance to Indian market changed the past trend of Smartphones. They show a fact that not only high cost phones can bring the quality, in liw budgets also can afford a real one.Apart from all these Chinese products had a bad impression that they are very cheap and never lasts in case of quality. Xiaomi made a trend setter in all means.