Xiaomi Corporation is a Chinese electronics company founded by Lei Jun and six co-founders on April 6, 2010, in Beijing. The company quickly disrupted the smartphone market by offering high-specification devices at aggressive price points, initially selling directly to consumers online to minimize costs. Xiaomi's smartphone lineup includes the flagship Mi (now Xiaomi) series, the mid-range Redmi series, and the performance-oriented POCO sub-brand. By 2021, Xiaomi briefly became the world's second-largest smartphone maker by shipments, surpassing Apple. Beyond smartphones, Xiaomi has built an extensive Internet of Things (IoT) ecosystem through investments in over 400 partner companies, offering smart home devices, fitness wearables, electric scooters, air purifiers, robot vacuums, smart TVs, and laptops. The company's MIUI (now HyperOS) operating system is used by hundreds of millions of devices globally. Xiaomi entered the electric vehicle market in 2024 with the SU7 sedan, marking a significant expansion into automotive. The company operates in over 100 countries and has established strong retail networks across Asia, Europe, and Latin America. Xiaomi's business model combines hardware sales with internet services and advertising revenue, maintaining thin hardware margins while building a comprehensive lifestyle brand ecosystem.
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