The Chinese aim for the very best and keep on rising high with their new and breakthrough innovations
and strategies. Founded on 6th April, 2010, Xiaomi Corporation can be considered as the most successful Chinese electronic companies with it’s revenue and sale going up the scale ever since it has launched it’s first product. According to Lei Jun, founder and CEO of Xiaomi Corporation, Xiaomi is an “innovation-driven internet company” and not just a simple company selling smartphones and other electronic gadgets.
Associating with popular celebrities
With Ranveer Singh, as the new Xiaomi ambassador and adding over 1000 employees in India, Xiaomi
has touched some new heights. With it’s explicit pricing strategy and understanding of the Indian
customer, Xiaomi has already laid the foundation to become one of the largest technology companies in
India. Xiaomi keeps the prices of the smartphones at a low cost, if compared to other smartphone
companies, selling it’s smartphones more than the normal period of keeping phones for sale in the
market. It had started it’s journey with just 10,000 phones on Flipkart but now it has reached a point
where in last October, it had launched 500 offline stores in one go.
Entering new industries
This year, besides launching new product categories, the company is likely to touch three new areas it
dabbled in earlier: Fintech; advertising; and gaming. Last December, Xiaomi has already got the approval
for MiPay and is dabbling with MiCredit. MiPay is a money transfer app and has tied up with ICICI bank
and PayU whereas MiCredit will let Xiaomi users have instant loans. Xiaomi had partnered with
KreditBee to offer loans upto INR 1,00,000. To have it’s Fintech run smoothly in India, Xiaomi has to beat
some really great rivals like PhonePe, Google, Paytm.
Xiaomi’s advertising business
Xiaomi’s strongest business in internet services is its advertising business. In the quarter ended
September, Xiaomi posted a 49.1% year-on-year growth in revenue at $7.6 billion and a net profit of
$430 million. In internet services, the company makes a margin of about 68%, whereas in hardware, its gross margin is 7.1%.
In January, Xiaomi launched Survival Game, modeled on the features of popular games like PUBG and Fortnite. Thus, it can be said that Xiaomi has already spread it’s wings in different categories to become one of the largest technology companies.
An important feature of Xiaomi’s internet services play is its operating system’s user interface – MIUI.
MIUI has a base of 70 million monthly active users. It was one of the earliest smartphone to control
appliances at home with the usage of onboard infrared blaster. Xiaomi’ smartphones is one of those
phones which let users configure two WhatsApp numbers on the same phone with it’s Dual Apps feature. Xiaomi is one of those companies which gives time to time update of user interface or operating system.
Xiaomi’s products range from smartphones to pens. Most of the products are not yet launched in India
but Xiaomi is aiming for launching all the products as India stands as base for highest sales with it’s 1.35
population. It won’t be wrong to say that Xiaomi is targeting to become an Internet Giant in India.