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07 Oct, 2019    0


Xiaomi was founded in 2010 by serial entrepreneur Lei Jun based on the vision “innovation for everyone”. We believe that high-quality products built with cutting-edge technology should be made accessible to everyone. We create remarkable hardware, software, and Internet services for and with the help of our Mi fans. We incorporate their feedback into our product range, which currently includes Mi and Redmi smartphones, Mi TVs and set-top boxes,

Mi routers, and Mi Ecosystem products including smart home products, wearables and other accessories. With presence in over 30 countries and regions, Xiaomi is expanding its footprint across the world to become a global brand. 

Xiaomi is a privately owned company that designs, develops, and sells smartphones, an Android-based OS, and other consumer electronics. Xiaomi also makes fitness trackers, TVs, air purifiers, and tablets. It has a skin for its Android phones and tablets – MIUI. The company largely sells its phones via flash sales in India.

Xiaomi operates on a vertically-integrated model that enables the company to sell hardware at cost or below in order to attract users and earn money by selling content. Hugo Barra, a former Google executive who served Xiaomi's vice president from 2014 to 2017, characterized the organization as "an Internet and a software company much more than a hardware company".

Xiaomi also keeps its prices low or close to "bill-of-material" by keeping most of its products in the market longer, eighteen months rather than the six-month norm followed by many smartphone companies. This strategy allows Xiaomi to take advantage of price reductions in the prices of key components of its products. It enables the company to sell hardware with specifications comparable to high-end devices at a fraction of the cost.

The company's version of the Android operating system, the MIUI skin, with its design, app marketplace, and functionalities, has established a community of users who form a crucial part of Xiaomi's customer base and contribute to the company's drive for market awareness. This ecosystem is a massive source of revenue as indicated in 2015, when sales from the platform reached $750 million.

The company focuses on India, the world's second-largest smartphone market. Xiaomi announced on May 2, 2018, the launch of Mi Music and Mi Video to offer "value-added internet services" in India. On March 22, 2017, Xiaomi announced that it planned to set up a second manufacturing unit in India in partnership with contract manufacturer Foxconn. On August 7, 2018, Xiaomi announced on its blog that Holitech Technology Co. Ltd., Xiaomi's top supplier, would invest up to $200 million over the next three years to set up a major new plant in India.

Recently Xiaomi started to sell more simple goods such as sunglasses, caps, pillows, glass lunchboxes, cups, filters, bags, backpacks, luggage, screwdrivers, and umbrellas.

In April 2019, researchers at Check Point found a security breach in Xiaomi phone apps. The security flaw was reported to be preinstalled.

Xiaomi is a relatively new brand in the phone industry. Their first smartphone Xiaomi Mi 1 was released back in August 2011. But within a very short period, at the end of 2014, they became the number one smartphone brand in the competitive market of China which was a country of 1.4 Billion people at that time. After China, Xiaomi has expanded its business to the USA and gained an excellent response from the consumers. But they have aimed high and decided to become one of the major brands in the global smartphone scene. Their success in China and in the USA helped them achieve this goal in less than three years. By the end of 2017, they were among the five top-selling smartphone brands in the world. In January 2019, Xiaomi opened the biggest Mi Store of Europe in Paris to establish their strong presence and continuous growth in Europe.


Xiaomi in Bangladesh

On 10th August 2016, Xiaomi introduced their smartphones in Bangladesh in a conference in Grameenphone Corporate Office. Xiaomi primarily launched three smartphones in the Bangladeshi market together with Grameenphone and their authorized distributor in Bangladesh Solar Electro BD. It took only about half a year for them to gain a significant amount of consumer response. It all started with the launch of Xiaomi Redmi Note 4 in February 2017. This low-mid range phone was “the ultimate smartphone” for its time for a vast number of smartphone enthusiasts in Bangladesh. The features were exceptionally versatile, the design was simply elegant, the performance was superior and the price was unbeatable. After that, they kept producing impressive phones to draw new buyers. At the beginning of 2018, they became the most searched smartphone brand online in Bangladesh. Brands like Samsung, Symphony, Huawei or Oppo were behind them. Then in 17th July 2018, Xiaomi officially entered Bangladeshi market with its own brand entity. Now, they are operating the busines