As Xiaomi pointed out at his press conference in the UK, in less than a decade, the company has evolved from an obscure startup to a $ 15 billion company. The success story is not very unique. Like Huawei, Vivo and Oppo, Xiaomi has ridden the wave that is the largest smartphone market in the world: China. In a place where iPhones and Samsung are prohibitively expensive for the majority of the population, local businesses have reached the underserved millions. Cheap Android devices, which outperformed their prices, indicate that these brands have risen to mainstream status in no time.
China is still the largest smartphone market in the world, but it was only a matter of time before a saturation point was reached; Equipment shipments eventually shrank in 201
Image: Nicolas Asfouri / AFP / Getty Images
However, Xia has Not only does Omi increase its range. It all started with smartphones, but Xiaomi is now a complete consumer electronics brand. In addition to accessories such as headphones, speakers, power banks and cables, Xiaomi also manufactures laptops, tablets, smartwatches and fitness trackers, televisions, drones, cameras and all sorts of smart home products, including kettles and rice cookers. Even toys, clothes, luggage and household goods. Xiaomi also holds a sizeable stake in Ninebot, the owner of the Segway brand and manufacturer of quirky transport equipment. In other words, it has all the fingers in the cake.
But smartphones are still a core business, and Xiaomi is now selling them across Asia and in several other developing markets worldwide, including Mexico. The game has also changed since the Chinese smartphone boom. Until recently, Chinese companies have often found clues about what works for established global players such as Apple and Samsung in terms of mobile phone design and equipment.
Now, however, the same companies have taken up the experimental mantle. They offer features such as in-display fingerprint readers and wireless reverse-charging, as well as the development of slider phones that hide the selfie cameras to enable true full-screen displays. They now make flagships that can compete on the world stage and sell them at attractive prices, even in markets where consumers are less price conscious. Xiaomi has even committed to achieving a net profit of no more than 5 percent on all hardware products.
The expansion was not without differences in speed: in 2015, Xiaomi chose Brazil as the first international market outside Asia, less than one A year later in early 2017, Xiaomi CEO Lei Jun Admitte said that the company may have been moving too fast, favoring growth rather than stability. At the end of 2017, Xiaomi made its first entry into Western Europe with a start in Spain. It has a flagship store in Barcelona and is already the number three smartphone brand in the country. More recently, Xiaomi founded in Italy and France and from this week also the United Kingdom.
Unlike Spain, where the smartphone market is so fragmented that new players have plenty of opportunities, the UK is a tough nut to crack. The survey results show that almost half of Britons carry iPhones, more than a third have a Samsung in their pocket and good, other companies share the committee. Even Huawei, who has been hanging around in the UK for years, has negligible market share even though its phones are being contracted through multiple network operators.
Xiaomi has its own network operator in Three, which is undoubtedly accelerated by the British airline The parent company of the network, the Asian conglomerate CK Hutchison. It's also not a tip in the UK: From its flagship £ 499 Mi 8 Pro to £ 99 Redmi 6A, £ 400 electric scooter and £ 27 Band 3 fitness tracker, the company brings dozens of products to the market online store and third party. Xiaomi's Sales Director for the UK, Wilkin Lee, told me that plans are in place to expand the range as quickly as possible, and to reduce the delay between the launch in China and the debut in the UK.