Xiaomi India Success Story | How Xiaomi Started in India? (MI Case Study)
Xiaomi started in 2010 by Lei Jun. Xiaomi Corporation is a Chinese gadget manufacturer headquartered in Beijing.
They creates and develop the resources into cell phones, tremendous applications, trimmers, headphones, television, and multiple other products.
MI Becomes No.1 Smartphone Brand Globally for First Time Ever. They surpassed Samsung and Apple and other big giants in June 2021 to become the number one smartphone brand in the world (first time ever), according to Counterpoint Research’s Monthly Market Pulse Service.
By the End of this article, you’ll know:
- Xiaomi Company Highlights
- About Xiaomi
- About Founder (Lei Jun)
- How Xiaomi/MI Started in India?
- MI Case Study
- Success Story of Xiaomi
- XIAOMI SWOT Analysis
- Business Strategies of Xiaomi
Table of Contents
Xiaomi Company Highlights
| Startup Name | Xiaomi |
|---|---|
| Headquarters | Beijing, China |
| Sector | Consumer Electronics |
| Founder | Lei Jun |
| Indian MD and Global VP | Manu Kumar Jain |
| Founded | April 2010 |
| Total Funding | $7.4 Billion |
| Revenue/Turnover | RMB 76.9 billion, YoY growth 54.7% (Q1 2021) |
| Adjusted Net Profit | RMB 6.1 billion, YoY growth 163.8% (Q1 2021) |
| Parent Organization | Xiaomi.Inc |
| Website | www.mi.com |
About Xiaomi
Lei Jun is the founder, CEO, and President of Xiaomi. The other co-founders are, Lin Bin, Dr. Zhou Guangping, Liu De, Li Wanqiang, Wong Kong-Kat, Hong Feng and Chuan Wang.
Xiaomi launched its first cell phone in August 2011 and quickly coverup the whole market of China. Then after 3 years (2014), Xiaomi become China’s biggest cell phone organization.
At the beginning of the second quarter of 2018, Xiaomi was the world’s fourth-biggest cell phone manufacturer. Xiaomi later built up a more extensive scope of hardware catalog, including a brilliant home (IoT) gadget ecosystem.
Xiaomi has around 15,000 employees in the countries such as China, India, Malaysia, and Singapore; it is now expanding to different nations like Indonesia, the Philippines, and South Africa. According to Forbes magazine, Lei Jun, the CEO of Xiaomi, has more than $12.5 billion in assets.
Lei Jun is China’s eleventh most richest individual and 118th in the world. Xiaomi is the world’s fourth most important innovative startup in the wake of getting $1.1 billion subsidizing from financial specialists, pegging Xiaomi’s valuation at more than $46 billion.
About Founder
Lei Jun is the founder, CEO, and President of Xiaomi. The other co-founders are, Lin Bin, Dr. Zhou Guangping, Liu De, Li Wanqiang, Wong Kong-Kat, Hong Feng and Chuan Wang.
Lei Jun is a graduate in computer science from Wuhan University. In 1992, Lei Jun joined the company Kingsoft, a Chinese software company as an engineer. Then in 1998, Lei Jun became the CEO of Kingsoft. In December 2007, he resigned from Kingsoft for some health-related issues.
While he was still working with Kingsoft, Lei Jun founded an online bookstore named Joyo.com. Joyo.com was acquired by Amazon.com in 2004.
After resigning from Kingsoft, Lei Jun became an angel investor and invested in over 20 companies. He still invests in various companies through Shunwei Capital. In 2008, he joined UC Web as Chairman, and in 2010 Lei Jun founded Xiaomi.
About the Co-Founders of Xiaomi
Lin Bin
Xiaomi co-founder & President Lin Bin is a graduate in radio electronics and holds a rich experience of working with companies like ADP, Microsoft, and Google. Lin Bin is also a member of the board of advisors of Tufts University School of Engineering located in Boston (USA).
Guangping
Dr. Zhou Guangping, who is a Ph.D. in Electrical Engineering, worked with Motorola and held various pivotal positions in the company before joining Xiaomi. Currently, Dr. Zhou leads the hardware and BSP teams at Xiaomi.
Wong Kong Kat
Wong Kong-Kat graduated in computer science in 1997 and joined Microsoft, where he worked till 2010. Mr. Wong is now in charge of the Mi wifi and Mi Cloud teams.
Liu De
Liu De is an M.S. and an expert in Industrial design. He established the Industrial Design Department at the University of Science and Technology Beijing. In 2003, Liu De founded ‘New Edge’, an Industrial Design Company. Mr. Liu currently looks after the industrial design and Ecosystem Development teams at Xiaomi.
Li Wanqiang
Li Wanqiang is known as one of the earliest UI and HCI experts in China. After completing his graduation in Industrial Eng ineering in 2000, Mr. Wanqiang joined Kingsoft, where he was leading many important and well-known software projects. In 2010 Wanqiang joined Xiaomi as a co-founder.
Hong Feng
Hong Feng holds a post-graduate degree in computer science. He started his career with Siebel System as a Lead Software Engineer. In 2006, Mr. Hong joined Google as a Senior Software Engineer. Later he also looked after the development of the various localized products of Google (in China) like Google Music and Google Pinyin Input as a Senior Product Manager at Google China. Mr. Hong now looks after the MIUI division at Xiaomi.
Chuan Wang
Xiaomi co-founder Chuan Wang is a seasoned entrepreneur. In 1997, Mr. Wang founded Thunderstone Technology, which grew to be the largest VOD (Video on Demand) system provider in China. In 2007 Chuan Wang founded a digital book company named Beijing Duokan Technology of which he is currently the CEO. In 2012, Mr. Wang joined Xiaomi as the co-founder and Vice President. Presently he manages the Mi TV and Mi Box teams at Xiaomi.
How Xiaomi/MI Started?
Xiaomi was founded in April 2010 by Lei Jun. MIUI, the ROM made by Xiaomi, turned into big hit and get an immense achievement and has been ported to numerous gadgets. Since 2014, MIUI can be downloaded and installed in more than 200 gadgets in both English and Chinese languages.
By the end of 2013, Xiaomi had more than 30 million MIUI clients around the world, an impressive figure for a youthful organization
Xiaomi’s revenue in 2013 alone was over $5 billion, huge and wonderful for a young organization. There are comparisons between Xiaomi and Apple as both are equipment and programming organizations, both have solid power over stock-chains, and both have a hot fanbase.
Xiaomi India Success Story – How Xiaomi Started/established in India
Xiaomi is a Chinese Company but it also the favorite of the Indian Market. In India this is the highest smartphone selling company and also No.1 LEDs in India which starts at just Rs.15000. The smartphone entered the Indian subcontinent back in 2014, just three years of its existence and went on to earn the tag, “India’s No.1 smartphone brand”.
MI Company came to the limelight due to its affordable Smartphones, Wearables, LEDs, Appliances and other Gadgets.
The rise of Xiaomi has come to define the new paradigm of consumer electronics in India. A major per cent of the population owns its smartphone and wearables, setting them apart from the mass market.
Xiaomi’s model of business has taken off not only because of its low-cost models and high-quality offerings but with strategic moves that leads to success over time. So, what is Xiaomi’s secret recipe? The success of the company lies in the seamless integration of products, pricing and marketing developments. Just like Apple, Xiaomi also build the ecosystem by which consumer buy other products as well to sync with their existing products.
It has undertaken over the years to increase its market share and brand recognition in India and around the world.
For those that don’t know Xiaomi, it is a consumer electronics company offering high-end as well as affordable products with innovative technology. It has two segments
- REDMI – Affordable Range of Products
- MI – High- End (Premium Range) Products
Watch the Full Video to Get the Fruitful Insights of Xiaomi India,
See How Xiaomi started and build Brand Value in Short span of time…!!!
SWOT Analysis of Xiaomi
A SWOT (Strength, Weakness, Opportunities and Threats) analysis is used to identify strategic opportunities and weaknesses within a company for management to take effective action. It basically represents a clear picture of problems, opportunities and helps in implementing a prospective change.
Strengths of Xiaomi
- Xiaomi is one of the largest smartphone manufacturers in today’s time
- Affordable and low prices is a key factor, in an affordable pricing they provide best features and quality to their consumers.
- Variety of products on the shelf to offer and keep on updating.
Source – candytech.in
Weakness of Xiaomi
- Online sales have proved to be beneficial but also has been a weakness for the company because not everyone trusts buying from online platforms
- Xiaomi misses the chance to reach high-income customers as it has created an image that tells the audience that its products are made for middle-class customers. Even they launched many high-end products under MI but then also people prefer to buy Oneplus, Apple and also IQOO brand products.
Opportunities for Xiaomi
- The brand has started focusing more on its offline stores which can increase their sales and bring in more revenue
- Creating strong research & development like that of Apple & Samsung will help Xiaomi to adapt to various technological changes quickly.
Threats for Xiaomi
- Xiaomi’s biggest threat is the presence of numerous competitors within the industry
- Misinformation and rumours about the brand in the market can also be a huge threat. This is why people should be well informed about the brand and the products it offers.
- Controversies are a huge risk to any brand. Xiaomi should be extremely cautious while getting associated with any type of controversy.
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FAQ
When was Xiaomi Established?
Xiaomi was established in April 2010 by Lei Jun and headquartered in Beijing, China.
Who is the Founder of Xiaomi Corporation
Xiaomi was founded by Lei Jun, Lin Bin, Zhou Guangping, Wong Jiangji, Wang Chuan, Liu De, Li Wanqiang, and Hong Feng.
