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    * Xiaomi *

    زیاومی


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    (Wikipedia) - Xiaomi

    Coordinates: 39°55′32″N 116°26′30″E / 39.9255°N 116.4416°E / 39.9255; 116.4416

    Xiaomi Technology Co., Ltd Native nameType Industry Founded Founder Headquarters Area servedKey people Products Revenue Number of employeesWebsite
    北京小米科技有限责任公司
    Private
    Consumer electronics Computer hardware
    April 6, 2010 (2010-04-06)
    Lei Jun
    Beijing, China
    Selected marketsList of countries:
    Lei Jun (CEO) Lin Bin (President) Hugo Barra (Vice President)
    Mobile phones Smartphones Tablet computers
    US$12 billion (2014)
    Approximately 5,000
    Xiaomi Global Xiaomi mainland China
    Chinese Literal meaning
    name
    小米
    millet Xiao - "little", mi - "rice"
    Transcriptions Mandarin Hanyu Pinyin
    Xiǎomǐ
    This article contains Chinese text. Without proper rendering support, you may see question marks, boxes, or other symbols instead of Chinese characters.

    Xiaomi Inc. (pronounced , Chinese: 小米科技; pinyin: Xiǎomĭ Kējì, literally "Xiaomi Tech", or "Foxtail millet Tech") is a privately owned Chinese electronics company headquartered in Beijing, China.

    The world''s 3rd largest smartphone distributor, Xiaomi designs, develops, and sells smartphones, mobile apps, and consumer electronics. Since the release of its first smartphone in August 2011, Xiaomi has gained market share in mainland China and expanded into developing a wider range of consumer electronics, including a smart home device ecosystem. The company''s founder and CEO is Lei Jun, China''s 23rd richest person according to Forbes. The company sold over 60 million smart phones in 2014.

    The company has over 5,000 employees, mainly in mainland China, Malaysia, and Singapore, and is expanding to other countries such as India, and Indonesia, and the Philippines.

    According to IDC, Xiaomi is now the third largest smartphone maker in the world followed by Lenovo and LG at fourth and fifth place respectively. Samsung remains at the first place despite declining shipment volume, followed by Apple Inc. at second place. Xiaomi also became the largest smartphone vendor in China in 2014, having overtaken Samsung, according to an IDC report.

    At the end of December 2014, Xiaomi became the world’s most valuable technology start-up after it received US$1.1 billion funding from investors, making Xiaomi''s valuation more than US$46 billion.

    Contents

    Etymology

    The name Xiaomi is the Chinese word for "millet". In 2011, its CEO Lei Jun suggested there are more meanings than just the "millet and rice." He linked the "Xiao" part to the Buddhist concept that "a single grain of rice of a Buddhist is as great as a mountain," suggesting Xiaomi wants to work from the little things, instead of starting by striving for perfection, while "mi" is an acronym for Mobile Internet and also Mission Impossible, referring to the obstacles encountered in starting the company. He also stated that he thinks the name is cute. In 2012 President Lei Jun said that the name is about revolution and being able to bring innovation into a new area. Several sources have linked the latter meaning to the Communist Party of China''s "millet and rifle" (小米加步枪) revolutionary idiom during the Second Sino-Japanese War.

    History

    Xiaomi was co-founded by eight partners on June 6, 2010. In the first round of funding, institutional investors included Temasek Holdings, a Singaporean government-owned investment vehicle, the Chinese venture capital funds IDG Capital and Qiming Venture Partners, and mobile processor developer Qualcomm. On August 16, 2010, Xiaomi officially launched its first Android-based firmware MIUI. The Xiaomi Mi1 smartphone was announced in August 2011. It was shipped with Xiaomi''s MIUI firmware which is based on Android and resembles Samsung''s TouchWiz and Apple''s iOS. The device could also be equipped with stock Android.

    In August 2012, Xiaomi announced the Xiaomi Mi2 smartphone. The phone was powered by Qualcomm''s Snapdragon S4 Pro APQ8064, a 1.5 GHz quad-core Krait chip featuring with 2 GB of RAM and the Adreno 320 GPU. The company said on September 24, 2013 that the company had sold over 10 million Mi2 devices over the preceding 11 months. Mi-2 smartphones were sold by wireless phone vendor Mobicity in the United States, Europe, United Kingdom, Australia and New Zealand. On September 5, 2013, Xiaomi CEO Lei Jun officially announced plans to launch an Android-based 47-inch 3D-capable Smart TV, which will be assembled by Sony TV manufacturer Wistron Corporation of Taiwan. The company explained the choice as to take advantage of Wistron''s skill as a supplier of Sony. In September 2013, Xiaomi announced its Mi3 phone, with a version powered by the Snapdragon 800 (MSM8974AB) and another by NVIDIA''s Tegra 4 chipset. On September 25, 2013, Xiaomi announced plans to open its first ever retail store in Beijing. By October 2013, Xiaomi was reported as the fifth most-used smartphone brand in China. In 2013, it sold 18.7 million smartphones. and 26.1 million smartphones in first half of 2014.

    In 2014, Xiaomi announced its international expansion outside of China with their first stop in Singapore. The international headquarters will also be set up in the city-state, which will coordinate all activities including future product launches in the region. Xiaomi''s Redmi and Mi3 phone made their debuts in Singapore on February 21 and March 7 respectively. On March 7, Xiaomi Mi3 batches sold out within 2 minutes of the opening day sale in Singapore. Following Singapore, The company has already landed in Malaysia, Philippines and India, and also has plans to enter Indonesia, Thailand, Russia, Turkey, Brazil and Mexico in the following months. On March 17, 2014, RedMi Note (also known as HongMi Note is some Asian markets) was announced by Xiaomi CEO Lei Jun. The RedMi Note features a 5.5-inch HD display with OGS technology and an octa-core processor from MediaTek. There are two variants of the RedMi Note, one with 1 GB of RAM and 8 GB of internal storage; and the other with 2 GB of RAM and 16 GB of internal storage. The phablet was made available for pre-order on March 19 exclusively through a mobile application from Tencent. In April 2014, Xiaomi purchased a new domain - mi.com for a record US$3.6 million. Mi.com becomes the most expensive domain name ever bought in China as confirmed by a senior executive of Xiaomi. Mi.com replaces xiaomi.com as the official website domain of Xiaomi. In Q2 2014, Xiaomi shipped 15 million devices or 14 percent of China''s market share and beats Samsung which only shipped slightly more than 13 million. By July 2014, it had sold 57.36 million phones. In November 2014, Xiaomi said it will invest US$1 billion in television content building. The investment is aimed at enriching the company''s content and becoming a bellwether for the industry.

    In December 2014, Xiaomi completed its latest round of equity financing led by Hong Kong-based technology fund All-Stars Investment Limited, a fund run by former Morgan Stanley analyst Richard Ji raising over US$1 billion proceeds with a valuation of more than US$45 billion, making it one of the most valuable private technology companies in the world.

    Business modelA Xiaomi Exclusive Service Center for customer support in Kuala Lumpur. A selected range of products is on display but purchase can only be made online.

    In selling the Xiaomi smartphone, Xiaomi employs a strategy that is very unlike other smartphone makers such as Samsung and Apple. Lei Jun, Xiaomi CEO, said that the company prices the phone almost at bill-of-material prices, without compromising the component quality and performance compared to other premium smartphones. To profit from the narrow margin, Xiaomi sells a model for up to 18 months instead of the short 6 months used by Samsung to profit from the fall in the costs of components that occurs over time. It also profits by selling phone-related peripheral devices, smart home gadgetry, in addition to apps, online videos and themes. In the long term, the company sees the hardware sales just as a means of delivering software and services, as explained by Hugo Barra, "We are an internet and a software company much more than … a hardware company."

    To further reduce overhead costs, Xiaomi does not own a single physical store and instead sells exclusively from its own online store. It also did away with traditional advertising and relies on social networking services as well as its own customers to help advertise its products.

    Furthermore, by keeping a tight control over its stock, Xiaomi is able to place cheaper batch orders as demand dictates. Limited availability flash sales ensure that supply never outstrips demand and helps create a free marketing buzz around its products. On the other hand, traditional OEMs have to incur large upfront productions costs in order to ship smartphones out to retailers all around the world, some of which may not sell. This is far more expensive than Xiaomi’s model and it’s the consumers that end up paying the difference.

    In terms of building a strong and loyal consumer base, Xiaomi’s approach involves listening closely to customer feedback, having them test out upcoming features themselves, and building an extensive online community. Lei Jun described it this way, "When I was with Kingsoft, I had the opportunity to work with Nokia and Motorola, 2 mobile phone giants of their time. One day, I pointed out to their R&D boss, some inadequacies. After that, they merely acknowledged my input, but never acted upon what I had said. So I thought to myself, if I make a phone, you can tell me anything you wish for it or what''s wrong. If it is justifiable, we will work on it immediately. I''ll give you an update every week and you may even see your wishes come true within a week." In practice, Xiaomi''s product managers dedicate a lot of time browsing through the company''s user forums. Once a suggestion is picked up, it is quickly transferred to the engineers. Therefore features can turn from mere concept to shipping products in the span of a week. The company then ships a new batch of phones out every week on Tuesday at noon Beijing time, containing the new software builds and possible minor hardware tweaks. Xiaomi calls this process "design as you build."

    Finally, by making its operating system MIUI open for download on other Android phones, it has made Xiaomi’s apps and content more easily accessible, widening the potential to provide services to more users.

    The Xiaomi products are manufactured by Foxconn and Inventec.

    Xiaomi''s mascot is a bunny wearing an Ushanka (known locally as a "Lei Feng hat" in China) with a red star and a red scarf around its neck.

    Products Mobile phonesXiaomi Mi 3Xiaomi Redmi Note

    Xiaomi''s flagship mobile handset line is the Xiaomi Mi series. The newest model in this line is the Xiaomi Mi4, succeeding the Xiaomi Mi3. It was initially launched in mainland China, followed by Singapore, Malaysia, Thailand and India on March, May and July 2014 respectively. The Xiaomi Mi3 uses a modified Qualcomm Snapdragon 800 and has been tested as the world''s fastest Android smartphone according to benchmark testing apps Antutu, Quadrant and Geekbench.

    Another mobile phone of Xiaomi''s is the Redmi Note which is a phablet and the second smartphone in the Redmi Series. In India, the Redmi Note comes in two variants, one with 3G, and the other with LTE. In India, Redmi Note is available exclusively on Flipkart. The first flash sale of the Redmi Note was held on December 2, 2014, and all 50,000 units in stock were sold in a mere 6 seconds.

    The smartphone''s software is based on MIUI, a closed source Android firmware based on the Android operating system. The latest flagship product of XiaoMi is the recently announced Xiaomi Mi4 at Xiaomi''s annual product launch at Beijing on July 22, 2014, featuring a Qualcomm Snapdragon 801, 3GB RAM, 8Megapixel front camera, and a further optimized phone exterior.

    It was reported that Xiaomi had ordered 50,000 sapphire covers from South Korean manufacturers, for a new premium smartphone. The limited edition may launch at the end of 2014.

    In an exclusive event in Beijing, China in January 2015, Xiaomi unveiled their new flagship phones Mi Note and Mi Note Pro to rival iPhone 6 at almost half the price. Both devices features 5.7-inch display and uses a dual-glass design with a 2.5D front and 3D rear glass. Since its release, a number of US-based publications have dubbed the Mi Note "The best smartphone you can’t buy in America."

    MiPad

    The Xiaomi MiPad is the first tablet to be announced by Xiaomi. First announced in the Xiaomi New Product Launch Event 2014, the device is the first device to use the NVIDIA Tegra K1 quad-core 2.3 GHz processor with 2GB RAM and it is on sale in mainland China at the price of CN¥1,499. It is currently available in many online stores for under GB£200.

    MIUI (operating system) See also: MIUI

    MIUI is a stock and aftermarket Android firmware for smartphones and tablet computers based on the open-source Android operating system. It is Xiaomi''s earliest known product.

    MiWiFi (network router)

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