Xiaomi

Xiaomi Corporation (小米集团) is a global consumer electronics and smart manufacturing company founded in April 2010 in Beijing, China, by Lei Jun and his partners. The company operates on the foundation of smartphones and an Internet of Things (IoT) platform connecting smart devices, driven by the vision to “be friends with users and become the coolest company in users’ hearts.” Xiaomi aims to bring innovative technologies to a broad audience and offer its products at fair prices.

Xiaomi was founded in April 2010 by entrepreneur Lei Jun and a group of partners. The company’s initial focus was developing MIUI, a customized Android-based user interface. MIUI rapidly gained popularity among technology enthusiasts due to its user-friendly design and frequent updates. In August 2011, Xiaomi launched its first smartphone, the Mi 1. This was followed in 2012 by the Mi 2, which achieved significant sales success. In 2013, Xiaomi introduced the more affordable Redmi series targeting a broader audience, which played a key role in expanding its market share.

Xiaomi grew rapidly through innovative sales models and strong online community engagement. After establishing a strong position in the Chinese market, it began expanding its global footprint from 2014 onward by entering international markets such as India. It diversified its product portfolio beyond smartphones to include smart home devices, wearable technology, and various lifestyle products. Designs such as the Mi Mix, launched in 2016, reflected the company’s innovative approach.

Xiaomi went public on the Hong Kong Stock Exchange (HKSE) in July 2018. While maintaining its strong position in the smartphone market—ranking among the top three global smartphone shippers in various periods—the company continued expanding its ecosystem under the “Smartphones × AIoT” (Artificial Intelligence Internet of Things) strategy. In 2023, Xiaomi introduced a new operating system, Xiaomi HyperOS, designed to enhance intelligent connectivity and user experience across devices. In line with its long-term growth strategy, the company decided to enter the smart electric vehicle (EV) market, officially unveiling its first EV, the Xiaomi SU7, in December 2023 and launching sales in the Chinese market in March 2024.

Xiaomi’s core philosophy is built on the mission to “create excellent products at honest prices to enable everyone in the world to enjoy a better life through innovative technology.” The company aims to “be friends with users and become the coolest company in users’ hearts.” To realize this vision, it embraces key values such as user-centricity, continuous innovation, and operational efficiency. Xiaomi places great emphasis on user feedback and has cultivated a loyal community known as “Mi Fans.” Its recently adopted “Human × Car × Home” strategy seeks to integrate personal devices, smart home products, and electric vehicles into a single unified ecosystem.

Xiaomi’s activities are primarily divided into the following segments (details are provided in the company’s annual reports):

• Smartphones: One of the company’s primary revenue segments, offering smartphones across various price and feature tiers under the Xiaomi (formerly Mi), Redmi, and POCO brands.
• AIoT (Artificial Intelligence Internet of Things) and Lifestyle Products: Includes smart TVs, laptops, tablets, wearable devices (smartwatches and fitness bands), smart home appliances (robot vacuums, air purifiers, lighting products, kitchen appliances, etc.), routers, electric scooters, power banks, and other consumer electronics and lifestyle products.
• Internet Services: A range of services delivered through MIUI and Xiaomi HyperOS operating systems, including app stores, cloud storage, fintech services, advertising, and content platforms. This segment strengthens the company’s ecosystem and user loyalty.
• Smart Electric Vehicles (EVs): Smart electric automobiles developed and manufactured under the Xiaomi EV brand. The first model is the Xiaomi SU7, representing one of the company’s key long-term strategic growth areas.

The table below presents Xiaomi Corporation’s key consolidated financial performance over recent years in approximate U.S. dollars and euros. These conversions are based on the annual average exchange rates indicated and provide only approximate values.

• 2023: 1 USD = 7.075 RMB; 1 USD = 0.924 EUR (1 RMB ≈ 0.14134 USD ≈ 0.13059 EUR)
• 2024: 1 USD = 7.189 RMB; 1 USD = 0.924 EUR (1 RMB ≈ 0.13910 USD ≈ 0.12853 EUR)

*Excludes smartphones, tablets, and laptops. 

**Includes smartphones and tablets.^【1】

Xiaomi has consistently ranked among the top manufacturers in the global smartphone market. The company’s annual reports support these achievements with data from market research firms. It has also appeared multiple times on the Fortune Global 500 list, demonstrating its corporate-scale success. Xiaomi has strengthened brand loyalty through close engagement with its strong user community known as “Mi Fans.”

By expanding beyond smartphones, Xiaomi has developed a comprehensive artificial intelligence and Internet of Things (AIoT) ecosystem, creating significant impact in the consumer electronics industry. Recognized internationally for its innovative products and technologies, Xiaomi has received numerous design and technology awards, typically sharing these accomplishments through its press releases and reports.