Xiaomi, having won battle in china over Apple and Samsung is targeting World Smartphone market.
Lei Jun, Xiaomi, CEO and Founder, voted as Businessman of the year 2014 by Forbes Asia and 8th richest man in China with net worth B $ 9.9, wants to be number 1 in SmartPhone market worldwide Till now, Xiaomi has proven its strength. Having sold 65 million handsets in 2013, is targeting 100 mn handsets in 2015. Though Xiaomi is hardly 3 years old and selling exclusively through Online channel, but , has proven to be a strong competitor for Big Names. In such a short span, Xiaomi is already in Top 5 slots in world and with tremendous growth rate.
What makes Xiaomi so favorite among consumers, its not just hardware but also the software strength which includes various applications like messenger for Xiaomi users, cloud and much more, which is backbone of company. Company is already offering open platform phones with key softwares and also a service back for rotted devices while most of the companies void warranty if device is rooted.
Xiaomi has developed the biggest online forum for users of xiaomi and non-users where it collects consumer insight and try to deliver the best possible product with a quality service back up.
Xiaomi has already invested $ 600 million in almost 25 start ups specially hardware companies in building smart products and diversifying in different sectors. As per the messsage conveyed by Lei to employees ” “We believe that this ecosystem we are building will be Xiaomi’s most important competitive advantage in our rapid growth ahead “.
As per Lei Yun, Business Portfolio of Xiaomi is like Amazon, almost zero profit on hardware and earn profit on contents and services. More over using social media effectively and selling online to reduce cost of marketing and transportation and margins of distributors.
As per the Interview given to Forbes, Lei Yun stated ” Go back to basics when it comes to product and service. We have to consistently focus on product innovation, emphasize on making friends with our users, and strive to produce high-quality, high-performance devices with great user experience. On 4th January, we are announcing Redmi 2, and on 15th January, we will be unveiling our next flagship device. There’s no better way to start 2015 than with our newest products.”
Xiaomi has come a long way since we started from scratch in April 2010. Innovating through our products and our business model, we have created a miracle. From being a developer of MIUI ROM to a smartphone manufacturer, Xiaomi has now become a national brand in consumer electronics, a front-runner in smart home technology, a provider of mobile Internet content, and a platform for Internet services. We are a company that the technology industry has never seen before.“From now onwards, every step we take is writing a new chapter in the history of the industry. In the year ahead, I hope that everyone at Xiaomi will continue being sincere, passionate, humble, nimble and involved while forging ahead, to explore the possibilities in this industry and to go places that people have never even dreamed of yet”
This reminds me of the way Maruti Suzuki started in india and developed a key network of vendors , implementing same quality and techniques for providing quality product to the end user. Xiamoi has well understood the need of combining all vendors through one string.
Xiaomi has set an example for key telecom giants like LG or Panasonic or Lenovo, how to build and market a product based on comsumer insight.
Is it only Lei Jun in Management Team who is running the complete show, No, along with Lei its one of the famous faces ” Hugo Barra ” Ex Vice president Google. Another ambitious man, who plan to capture Latin America as well US market. Hugo is the man deciding on finalization of products as well entering in new markets.