Xiaomi Corporation
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July 1, 2020
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Xiaomi Corporation

Revenue:
RMB 205,838.7 million (2019)
Profit:
RMB 10,103.0 million (2019)
Employees:
18,170 (2019)
Headquarters:
Haidian District, Beijing, China
Founded:
6 April 2010
Current CEO:
Lei Jun (6 Apr 2010–)
Parent:
This is ultimate parent

Description

Xiaomi Corporation is a Chinese electronics company that manufactures and invests in smartphones, scooters, smart home devices, projectors, portable chargers, and fitness and lifestyle products.

Xiaomi was founded in April 2010 by Lei Jun, Lin Bin, Li Wanqiang, Wang Chuan, Zhou Guangping, Hong Feng, Liu De, and Wong Jiangji. The founding team had considerable expertise in the smartphone field, with the vice president of the Google China Institute of Engineering (Lin Bin), the senior director of the Motorola Beijing R&D centre (Dr Zhou Guangping), and among other notable talents the department head of industrial design at the Beijing Institute of Technology (Liu De). Xiaomi released its first smartphone in August 2011 and rapidly gained market share in China.

Xiaomi, unlike other companies which focus solely on smartphones or related devices such as laptops, has pursued a varied product development path. The launch of products such as the Xiaomi M365 Electric Scooter demonstrates the company's willingness to diversify its product range in order to take advantage of trends within society - the electric scooter trend was first fuelled electric scooter ridesharing apps.

While Xiaomi primarily operates within China, and is headquartered in Beijing, China, the company is incorporated in Cayman Islands. The company’s registered office is located at the offices of Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands.

The company's logo, symbolised by the characters "MI", stands for "Mobile Internet".

Xiaomi is traded on the Stock Exchange of Hong Kong (HKEX) under the code 1810.

In Chinese Renminbi (RMB)
In Chinese Renminbi (RMB)
In Chinese Renminbi (RMB)
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Operating Segments:

Smartphones - Xiaomi's smartphone segment manufactures and sells smartphones through the Xiaomi and Redmi brands. The Xiaomi brand is offered in the mid- to high-end markets, and is sold through online and offline retail channels. The company's Redmi brand, is offered to the low-end market and is sold on online channels. In the year ending 31 December 2019, the smartphones segment accounted for 59.32% (RMB 122,094.9 million) of total revenue.

IoT and lifestyle products - Xiaomi's IoT and lifestyle products segment manufactures and sells products including vacuum cleaners, scooters, home security cameras, fitness trackers, drones, headphones, and more. In the year ending 31 December 2019, the IoT and lifestyle products segment accounted for 30.16% (RMB 62,088.0 million) of total revenue.

Internet services - Xiaomi's internet services segment offers services such as Xiaomi Cloud. The internet services segment revenues are derived from advertising services and internet value-added services. In the year ending 31 December 2019, the internet services segment accounted for 9.64% (RMB 19,841.6 million) of total revenue.

Others - The others segment primarily comprises revenue-sharing from cellular network carriers in mainland China for the cellular service plans purchased by users of the Xiaomi’s smartphones and revenue from the Xiaomi’s hardware repair services for products. In the year ending 31 December 2019, the others segment accounted for 0.88% (RMB 1,814.2 million) of total revenue.

Mergers and Acquisitions:

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