Founded in April 2010, Xiaomi Corporation is an Internet company producing smartphones and AIoT (Artificial Intelligence of Things) devices, such as connected devices in households like robot vacuum cleaners, and wearables like smart watches. Xiaomi’s mission is to manufacture top quality products with fair prices and to support customers worldwide to enjoy a better life through innovative technology.
Ten years after its inception, and following its original mission statement, Xiaomi Corporation has developed into a top-class technology company in China and a global technology leader. In 2019, Xiaomi Corporation appeared in Fortune’s Global 500 for the first time, while also being the youngest company on the list. Moreover, in the third quarter of the year 2020, the corporation outperformed Apple to third place as a top smartphone vendor by selling 47.1 million units, according to a Canalys report.
The name of the brand derives from a Chinese meal that the founders ate before officially starting the business, a millet porridge called “Xiaomi Zhou” in Chinese. In addition, the “MI” in the company’s logo stands for “Mobile Internet”. It also resembles the Chinese character “心” rotated 180°, which means “heart”. With technological breakthroughs in the field of AIoT, like Xiaomi´s AIoT router, the brand has built a leading IoT platform for consumers, increasing the attractiveness of Xiaomi’s smart products and leading the industry’s development trend.
Strategic branding: brand diversification for different target groups
Xiaomi Corporation started developing multiple brands after its establishment. In August 2010, the first private beta version of MIUI, the company’s own user interface based on Android, was launched. A year later, Xiaomi Corporation released its first smartphone.
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