Xiaomi is a Chinese electronics company that has been disturbing the world of electronics lately. Xiaomi is a company that comes from humble beginnings and has moved up the mountain. Recently, they managed to pull Google’s VP of Android Hugo Barra, and have launched a phone line, which has propelled them into the big league. Many companies in the past have released a phone line, but Xiaomi is different. They have managed to deliver what many have been waiting for: a phone with the power of an iPhone 5 with a $50 price on contract. The shear fact that they have done this has put the profits of many companies at jeopardy.
Now, before one begins to understand why Xiaomi even matters, they have to look at it this way: Xiaomi started as a Chinese company that acquired Apple like loyalty from their fans and started acquiring company additions from companies like Google and Microsoft. Besides that, they have managed to expand and have record profits like never seen in such a young company. Just this first half of 2013 report showed that they acquired $2.15 billion in revenue and sold over 7.03 million devices. From the way they are growing, many are starting to believe that Xiaomi is meant to be international from the get-go.
Xiaomi combines three major factors: high-end electronics, low prices, and user feedback. This has not only helped them grow immensely, but if their tactics were applied internationally it would change the electronics market. Just recently they released the Mi-3 with their MIUI android-based operating system, which is being called the fastest phone in the world.
Now, you may be wondering why it is being called this. Well, here’s the Mi-3’s specs:
Version 1: TD-SCDMA: 1.8 GHz Nvidia Tegra 4 x2
Version 2: China UniCom: Qualcomm Snapdragon 800 x2
3050 mAh battery
13 MegaPixel Camera w/dual flash LED’s
After seeing all this, lastly we have to cover the price. In the US, the price of the Mi-3 would be $347(non-contracted).
Now, after hearing all this you might be wondering, how exactly does this inspire customer loyalty? Well, first off, Xiaomi includes it’s customers into the design process. In most companies, users give feedback, then the company partly listens, has a closed development process, and then launches the product. Not in Xiaomi. In Xiaomi, users give feedback in all the development of a product. This is what has made Xiaomi products so sought after. User input was not only put into their hardware, but also into their software. Xiaomi’s Android based MIUI, now in version 5, was also built based on user feedback. MIUI is believed to become more powerful then before now the Barra is on the Xiaomi team, while some rumor that with Barra, MIUI might actually become a major competitor with Android.