One of the fastest-growing smartphone players in the World, Xiaomi has captured huge market share as well as countless hearts of its users.
Xiaomi, a highly regarded Chinese electronics manufacturer, has become a familiar name in the smartphone market globally.
Let us look at Xiaomi’s journey and dig more in-depth on how it took the World’s smartphone market by storm:
Xiaomi turns 10 this year
Xiaomi was first launched as an Internet company in Beijing in April 2010. Its co-founders are Lei Jun, Lin Bin, Dr. Zhou Guangping, Li Wanqiang, Wong Kong-Kat, Liu De, and Hong Feng. As the company established, the “Mi” logo denoted “Mobile Internet.”
In the same year, Xiaomi introduced MIUI (pronunciation Me You I) as its Android-based operating system for its smartphones. The idea was to compete with Samsung’s TouchWiz. It had many features similar to Apple iOS.
In 2011, Xiaomi revealed its first smartphone based on its firmware, MIUI. Mi 1, the first Xiaomi smartphone, made its way in East Asia, excluding India. After getting opening success, it expanded itself by launching Redmi as its sub-brand and launched Redmi 1 under its brand new portfolio. In just three years, Xiaomi became the largest smartphone manufacturer in China.
The company’s footprints were only limited to China until 2014. Xiaomi set up its first international office in Singapore. By the time it entered India, Xiaomi has already reached Malaysia and the Philippines.
In July 2014, Xiaomi brought Mi 3 as its first smartphone in India. It kick-started in Xiaomi’s career in the country. Mi 3 was snapped up within days of its launch.
The firm aimed to sell at least 10,000 smartphones in 2014, but by the time it reached 2018, Mi and Redmi phones were sold like hotcakes.
Within the first three months of 2018, it sold more than 9 million phones, And in 2019, Xiaomi sold over 100 million smartphones in India.
Meanwhile, the company started producing a wide range of products such as Smart Tv, wearable devices, power bank, router, etc. Along with Redmi, Xiaomi is also a parent company of Poco phones.
In 10 years, Xiaomi has rapidly risen to the top of the smartphones and consumer electronics market, competing with high tech giants like Apple and Samsung.
Taking World’s Smartphone market by storm
Xiaomi has crushed the dreams of many smartphone companies in the World and has become a leader.
Here are 7 reasons behind the success of Xiaomi:
Relatively Low Price
Xiaomi’s excellent success has been achieved using its relatively lower prices than any other smartphone brand of its range. It is known for its value for money products.
It has models ranging from Rs.5000 to Rs.30000. The idea behind the mid-price range is to compete with brands at different cost levels. The high specification phones match up to high-end models of Apple and Samsung, while lower-end products of the company easily penetrate emerging markets.
It keeps on launching new products with brand new features. One good thing is that Xiaomi keeps the price range as minimum as possible.
Xiaomi has created its monopoly by creating an in-house, high-quality user interface known as MIUI. All the Xiaomi phones, including its sub-brands, are eligible for MIUI updates. The company is reputed for providing regular MIUI updates. Its latest version is MIUI 12.
Though MIUI is built on the Android platform, its certain features resemble iOS. Similarities between MIUI and iOS include the organization of the Settings app, the dialler, and the in-call interface, etc. The idea is to prompt the iOS users to switch to android.
In MIUI, users can download the theme and fonts pack to customize the user interface.
Xiaomi offers high-quality specifications such as camera quality, display, memory, and many more. It mainly focuses on battery life and performance.
Xiaomi has made itself a serious contender based on its specifications in the smartphone industry.
Xiaomi’s latest smartphone is Redmi Note 9 Pro and Redmi Note 9 Pro Max, which have a 48-megapixel camera and 64-megapixel camera, respectively.
Xiaomi is an e-commerce company meaning that it has its store online. Xiaomi’s website is one of the biggest business-to-consumer e-commerce stores.
In the beginning, the company’s products used to be sold on Amazon and Flipkart. Later, they realized that creating their e-commerce website would reduce the cost. However, they continue to partner with Amazon and Flipkart to reach a wide range of audiences.
Xiaomi is known for its big flash sales. This means that the sale of products will start online for a particular time with limited stock.
It sells many of its new products in limited flash sales. In 2015, Xiaomi India posted on its social media that “50,000 Redmi Note 4G smartphones sold out in just 2 minutes.”
Flash sales are a brilliant marketing strategy of Xiaomi to generate curiosity among buyers.
Xiaomi’s website will update you daily about the next available product in its upcoming flash sales.
After-sales services After-sales services are one of the principal criteria before purchasing an electronic device.
Xiaomi has service centers spread across different countries. It has introduced various initiatives to enhance its after-sales services. Such as in India, customers can pre-book a visit to their nearest service center on Mi Store app or Mi.com.
It’s after selling services also includes easily accessible customer care and chat support systems.
Social Media presence Xiaomi has a superior social media presence. Not only is there a buzz for products and updates about flash sales, but also fun things like photo contests, how-to guides, etc.
For an ultimate marketing strategy and audience engagement, social media plays an indispensable role. A company like Xiaomi uses it wisely to remain visible and interact with both customers and prospective buyers.
All of the companies’ key executives are very much active on Twitter, Instagram, and Facebook. Lei Jun, Xiaomi CEO, and co-founder has over 221.3k followers.