Xiaomi is one of the quickest growing tech companies in the world. It offers smartphones, laptops, and smart devices. It was founded in 2010 by Lei Jun. The company became the world’s fourth largest smartphone maker within no more than 8 years. An announcement about this appeared in Twitter recently. It has deployed operations in more than 90 countries and regions around the world. Moreover, it has achieved good results in the top five in the market 42 countries and regions out of 90. This simply means, in almost half of the markets Xiaomi is among the leaders. Thus, the recognition rate of this brand is quite high.
How Xiaomi growed
Xiaomi has currently deployed more than 2,000 ecosystems and consumer IoT devices. The company has become one of the world’s largest consumer IoT platforms. The overall quantity of the loT access devices is 213.2 million. The company also capped its profit margin per unit to 5 %. It improved its supply management by introducing physical retail stores.It also partnered with notable e-commerce stores. Thus, Xiaomi’s growth soared 125 percent annually. It outperformed all its major rivals. Xiaomi is expanding like wildfire across Asia, particularly in India. Oppo slipped to fifth place, capturing 7 percent global smartphone market share in Q1 2018. That means that it tumbled from 8 percent a year ago. Oppo has been hit hard by Xiaomi’s rapid retail expansion. Huawei also improved its Android device portfolio.
Even though Samsung and Xiaomi increased their sales volume, the overall market has shrunk by 2.4%. Samsung regained its top spot. It outranked Apple in Q1 2018 by shipping 78.2 million units.
Samsung is more popular in western countries, especially North America. However, it faces intense competition against budget brands. These are Xiaomi and Huawei in India, Pakistan, and China.
Anyways, when Xiaomi was first founded, it only sold its products directly to consumers. That process was online in an effort to reduce overhead costs. They tried to avoid spending money on advertising. It only relied on brand loyal customers to spread the products. But it’s now expanding its footprint beyond China. The company opens new stores in Europe — including locations in Milan and Barcelona. Not only that, it is forming retail partnerships in the U.K.
Also read: Xiaomi Youpin Smart Cat Eye M1 Released
Xiaomi’s official page: Xiaomi global
