Xiaomi

Xiaomi Corporation is a Chinese company engaged in the development of electronic equipment, both smartphones and various household items. The company has made its way into the world market by opening a number of physical stores in Asia, Europe and some Latin American countries, in addition to its website and official and unofficial distributors. Since the launch of its first smartphone in August 2011, Xiaomi has It gained market share in China and has expanded its product line to other electronic devices. Today it has worldwide interference in the cellular technology market.

In 2013, the company made the Xiaomi Mi 2S the most popular smartphone in China, ahead of Samsung's Galaxy S4 and Apple's iPhone 5, according to data from specialist consultancy AnTuTu.

Etymology

Xiaomi is a Chinese word for "cheap". In 2011, its CEO Lei Jun said that there is more meaning than "corn and rice". He related the "Xiao" part to the Buddhist concept of "a Buddhist's single grain of rice is as big as a mountain", suggesting that Xiaomi intends to work from small things, rather than starting from perfection, while "my". Acronym for Mobile Internet (Mobile Internet in Spanish). In 2012 Lei Jun said that the name is about revolution and being able to bring innovation into a new era. The latter meaning has been linked by various sources to the Chinese Communist Party's revolutionary expression "the gun and the rifle" during the Second Sino-Japanese War.

Business model

Lei Jun, CEO of Xiaomi, mentioned that the company has priced the phone almost at the price of the materials without compromising on the quality and performance of the components compared to other premium phones. It also sells smartphone related accessories and smart devices. home products, apps, online videos and themes. According to Xiaomi's Hugo Barra, in 2014, the company sees the sale of hardware as a long-term means of providing software and services, "We are an Internet and software company much more than a hardware company." However, the financial data at the time indicated that these were wishes or plans for the distant future: 94% of the company's revenue came from the sale of mobile phones, an even higher proportion than Apple's.