How Xiaomi became the most successful company in India? | Info Geeks
Xiaomi is a Chinese electronics company founded in 2010 and headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, bags, trimmers, earphones, MI Television, Shoes, fitness bands, and many other products. Ranked 468th, Xiaomi is the youngest company on Fortune Global 500 List for 2019.
Xiaomi released its first smartphone in August 2011 and rapidly gained market share in China to become the country’s largest smartphone company in 2014. At the start of second quarter of 2018, Xiaomi was the world’s fourth-largest smartphone manufacturer, leading in both the largest market, China, and the second-largest market, India. Xiaomi later developed a wider range of consumer electronics, including a smart home (IoT) device ecosystem.
Xiaomi has 15,000 employees in China, India, Malaysia, Singapore and is expanding to other countries including Indonesia, the Philippines, and South Africa. According to Forbes magazine, Lei Jun, the founder and CEO, has an estimated net worth of US$12.5 billion. He is China’s 11th richest person and 118th in the world. Xiaomi is the world’s 4th most valuable technology start-up after receiving US$1.1 billion funding from investors, making Xiaomi’s valuation more than US$46 billion