Xiaomi, a Chinese privately-held mobile phone company launched in 2010, has become the world’s 4th largest mobile phone manufacturer, but we bet you’ve probably never heard of them.
Astronomical growth
The company experienced astronomical growth during its first few years, shipping a whopping 71 million devices in 2015, more than 10 times that of 2014. This rapid growth has understandably meant that sustaining such high levels of sales has become increasingly difficult for a relatively new business, and Lei Jun, the company’s CEO, has said that the firm will need to “slow down” to ensure sustainability for future years. He said “We created a miracle, but also drew on some long-term growth”.
More than just a smartphone
Amazingly, Xiaomi doesn’t just stop at making smartphones. This new Chinese giant of industry also manufactures and sells laptops, tablets, network routers, smart TVs, set-top boxes, cloud storage services, messaging services, external batteries, fitness monitors, smartwatches, blood pressure monitors, air purifiers, webcams and robotic vacuums to name but a few.
It would seem that Xiaomi has set its sights on becoming a world leader in electronics despite being just a few years old, and it could be only a matter of time before their products make it to the western markets.
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