2. The "MI" in our logo stands for “Mobile Internet”. It also has other
meanings, including "Mission Impossible", because Xiaomi faced
many challenges that had seemed impossible to defy in our early
days.
Lei Jun
CEO of Xiaomi Inc.
3. Xiaomi was founded in 2010 by serial entrepreneur Lei Jun, who
believes that high-quality technology doesn't need to cost a
fortune. We create remarkable hardware, software, and internet. We
have sold more than 61 million handsets in 2014 by incorporating
the feedback of our users. We have launched our products in
Taiwan, Hong Kong, Singapore, Malaysia, Philippines, India,
Indonesia and Brazil. Xiaomi is now expanding its footprint across
the world to become a global brand.
4. Business Model
BoM Price
Virtual Store
Incorporate Customer’s Feedback
Tight Control over Stock
Xiaomi employs a business strategy very unlike other rivals.
5. Business Model
Lie Jun, Xiaomi CEO said that the company prices the
phone almost at bill-of-material (BoM) prices without
compromising the component quality and performance
compared to other premium smartphones
Xiaomi does not own any physical stores and sell
exclusively from its online store/virtual store. It also
relies on social networking for marketing.
6. Business Model
Xiaomi listen closely to customer feedback, having them
test out and incorporate those features in upcoming
phones.
Xiaomi is able to place cheaper batch orders as demand
dictates. Xiaomi’s Limited availability online flash sales
ensure that supply never outstrips demand and helps
create promote its products.
8. Positioning against the competition
Offering Value for Money Smartphones
Xiaomi launched budget smartphone very smartly
via flash sale virtually.
MAKING QUALITY TECHNOLOGY ACCESSIBLE TO EVERYONE.
Huggo Barra
Vice President of Xiaomi Inc.