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About

Xiaomi is a china multinational corporation and technology company headquartered in Beijing, China. It is best known for its consumer electronics software, and electric vehicles. It is the third-largest smartphone vendor in the world as of 2025, behind Apple and Samsung, most of which run on the Xiaomi HyperOS (former MIUI) operating system. The company is ranked 338th and is the youngest company on the Fortune Global 500. It has been called the "Apple of China"

Xiaomi was founded in 2010 in Beijing by Lei Jun along with six associates. Lei had worked at Kingsoft as an executive and been involved in the founding and management of Joyo.com, the latter of which was sold to Amazon for $75 million in 2004. In August 2011, Xiaomi released its first smartphone and by 2014 it had the largest market share of smartphones sold in China. Initially the company only sold its products online; however, it later opened brick and mortar stores. By 2015, it was developing a wide range of consumer electronics. In 2020, the company sold 149.4 million smartphones and Xiaomi HyperOs(formerly MIUI) mobile operating system has over 500 million monthly active users. As of August 2024, Xiaomi is the second-largest seller of smartphones worldwide, with a market share of about 12%, according to Counterpoint. It has come up with its own range of wearable items. It also is a major manufacturer of appliances including televisions, flashlights, unmanned aerial vehicles, and air purifiers using its Internet of things and Xiaomi Smart Home product ecosystems

Xiaomi keeps its prices close to its manufacturing and bill of materials costs by keeping most of its products in the market for 18 months, longer than most smartphone companies. The company also uses inventory optimization and flash sales to keep its inventory low.

Founder

Lei was born on 16 December 1969 in the city of Xiantao, Hubei, China. Both of his parents were teachers; his father made $7 a month. As a child, he was interested in electronics and liked disassembling and re-assembling radios, which was encouraged by his father. He made the first electric lamp in his village using two batteries, a bulb, a self-made wooden box, and some wires.

In 1992, Lei joined Kingsoft as an engineer. He became the CEO of the company in 1998 and led it towards an initial public offering on the Hong Kong Stock Exchange in 2007. On 20 December 2007, he resigned as president and CEO of Kingsoft for "health reasons".

In 2000, Lei founded joyo.com, an online retailing platform, which he sold for US$75 million to Amazon.com in 2004. In 2005, he made a $1 million investment in YY; those shares were worth $129 million when the company became a public company via an initial public offering in 2012.[11] In 2008, he became a chairman of UCWeb.

In 2011, he co-founded Shunwei Capital (Chinese: 顺为资本), an investment company, via which he invests in companies in the e-commerce, social networking, and mobile industries. Also in 7 July 2011, he rejoined Kingsoft as chairman.

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