Xiaomi ([6] ) is a Chinese 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,[7] most of which run on the Xiaomi HyperOS (former MIUI) operating system. It has 754.1 million global monthly active users, as of December 2025.[8] The company is ranked 338th and is the youngest company on the Fortune Global 500.[9][10] It has been called the "Apple of China".[11]
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.[12] By 2015, it was developing a wide range of consumer electronics.[13] In 2020, the company sold 149.4 million smartphones and MIUI had over 500 million monthly active users.[14] As of August 2024, Xiaomi is the second-largest seller of smartphones worldwide, with a market share of about 12%, according to Counterpoint.[15] It has come up with its own range of wearable items.[16]
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.[17][18] The company also uses inventory optimization and flash sales to keep its inventory low.[19][12]
History
2010–2013
On 6 April 2010, Xiaomi was co-founded by Lei Jun and six others:
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. At the time of the founding of the company, Lei was dissatisfied with the products of other mobile phone manufacturers and thought he could make a better product.
On 16 August 2010, Xiaomi launched its first Android-based firmware MIUI (Now Xiaomi HyperOS).[20]
In 2010, the company raised $41 million in a Series A round.[21]
Corporate affairs
Business trends
The key trends for Xiaomi are (as of the financial year ending December 31):[117]
Corporate identity
Name etymology
Xiǎomǐ (小米) is the Chinese word for "millet".[118] In 2011, its CEO Lei Jun suggested there are more meanings than just the "millet and rice".[119] He linked the xiǎo (小, lit. 'small') part to the Buddhist concept that "a single grain of rice of a Buddhist is as great as a mountain",[120]
Reception and controversies
Business
Imitation of Apple Inc.
Xiaomi was described by some commentaries as imitating Apple Inc.[160][161] The hunger marketing strategy of Xiaomi was described as riding on the back of the "cult of Apple".[23]
After reading a book about Steve Jobs in college, Xiaomi's chairman and CEO, Lei Jun, carefully cultivated a Steve Jobs image, including jeans, dark shirts, and Jobs' announcement style at Xiaomi's earlier product announcements.[162]
See also
- List of Xiaomi products
- Xiaomi Auto
- Xiaomi HyperOS
- Xiaomi MiMo