The company known as Apple of China, Xiaomi which began its journey on April 6, 2010 turns five today. Xiaomi is now the third largest mobile phone manufacturer in the world. Currently evaluated at $64 billion, the company became the most valuable technology startup in December 2014 after receiving a funding of more than $1.1 billion from investors.
1. Pronunciation It’s been about a couple of years since the brand had entered to storm the Indian markets, it seems like majority of the people, even its users doesn’t know how the pronunciation goes. Quoting Hugo Barra “the best way to pronounce Xiaomi is to “think of ‘show me’ and then pronounce the first word as shower.” If you still can’t do it, just read it as ‘Sha-Oo-Mee’. 2. The Deep Meaning behind the name
If we go by the dictionary meaning, ‘Xiaomi’ in Chinese means ‘millet’ (‘Xiao’ means little and ‘Mi’ means rice). But surprisingly, in 2011 company’s CEO, Lei Jun emphasized on the deeper meaning of the word ‘Xiaomi’. He associated the former part of the name, ‘Xiao’ to the great Buddhist saying “a single grain of rice of a Buddhist is as great as a mountain” and then added that the company wants to start with little things and take the company forward with its hardwork and team effort. The latter word, ‘Mi’ is a synonym for Mobile Internet or Mission Impossible to him, considering the difficulties faced by the company in its initial phase. 3. The Team The co-founder and President, Lin Bin was the Vice President during his tenure at Google; co-founder, Hong Feng was the Senior Product Manager at Google; the company’s Vice President, Hugo Barra was the Vice President of Google in 2012, when he left the company. The strong Google connection existing in Xiaomi is an assurance of how dedicated the team is when it comes to Android as a mobile operating system.
4. Products: Xiaomi isn’t only about smartphones In India, the company has a strong presence in the smartphones market but that doesn’t meant their focus is limited to smartphones. In addition to having a strong hold in the smartphones segment, Xiaomi is expanding its range of product to wearables and home technology. MiPad (tablet series), MiTV (Smart TV series), MiCloud (cloud storage service), Mi Band (fitness monitor & sleep tracker) and Air purifier are some of the products that are less known to people. 5. The company’s aim: Are they here to make profit? Hugo Barra has always emphasized on how important customers are to the company and how much they value each one of them. Xiaomi offers great specifications at a really cheap price, in comparison to the other top smartphone manufacturers. And talking statistically, the company made $56 million in net profit during 2013, on sales of $4.3 billion. This translates into a profit of 1.8%, contrary to Apple (28.7% in 2013) and Samsung (18.7% in 2013). In 2014, Xiaomi made $11.97 billion in sales, but the profit figures are unclear. If you have something that makes Xiaomi really special as a company or as a brand, let us know through the comments below and we will make sure that it finds a place in this story.