Xiaomi, now one of the world’s largest smartphone makers, has been established in 2010. The largest product market in this country, China and India, and since the beginning of this year, the company has become the bestselling smartphone brand in India by taking Samsung’s position in India.
Most of the time, Xiaomi is referred to as Apple East, which goes back to the design philosophy of the company, as well as the fact that the MIUI interface resembles the iOS user interface. The bad or good of this approach depends on who you are asking for. Here are five interesting facts about the company that you probably did not know before.
Xiaomi has a Guinness record
In 2015, Xiaomi managed to get the record for selling the most phones within 24 hours on a fixed platform. On this day, the company offered a lot of discounts and managed to sell 2011 – 2010 smartphones within 24 hours on its website. The previous record belonged to the Tmall site (from Alibaba subsets), which managed to sell 189,467 phones in 2014 for 24 hours.
In addition to smartphones, the company managed to sell 77,000 smart home appliances, 247,000 wires, 208,000 Mi Band wells, and 38,000 smartwatches during these hours, with none of these records being record-breaking. Ultimately, Xiaomi’s revenues from this extraordinary sale have brought about $ 420 million worth of profits for the company.
The company’s margin is always limited to 5 percent.
Xiaomi’s CEO Lei Jun said in April that the profit margin from the company’s hardware sales after tax is always limited to 5 percent. This means that all Xiaomi gadgets, from smartphones to home products, are covered by this law.
This means that Xiaomi does not follow the business model of companies like OnePlus, which almost every year increases its product prices. Because of the adoption of this strategy, the company’s products are always more affordable than competitors, and this is a good news for the company’s fans.
A large part of the company’s profits comes from the revenue generated by the sale of accessories and content and digital services. In order to increase sales in this sector, the company should be able to sell more phones and keep their prices down to the same strategy.
Xiaomi paid $ 3.6 million to buy a domain
This company is a domain of mi.com In 2014, it bought $ 3.6 million and replaced it with Xiaomi.com as its official domain name. Non-Chinese people have a problem with the expression “Xiaomi”, but the pronunciation of mi is very convenient for people around the world. Also, as the company sells most of its products through its site, the simplicity of this domain makes it easier for users to visit the site.
Domain mi.com was the most expensive domain sold that year, and if you’re wondering about the most expensive domain name, this record is owned by Insurance.com, which sold for a massive $ 35.6 million.
The Xiaomi logo has a secret meaning
The logo of the company is very simple at first glance, but in fact, it’s not as simple as you think. When you turn this logo around 180 degrees, it looks like a Chinese word meaning “heart”.
Mi itself, according to Xiaomi, is an abbreviation of Mobile Internet, and the company also said that it also has other hidden meanings. One of them is the Mission Impossible, which, according to the company’s officials, addresses the challenges that they are constantly struggling with. Finally, we should refer to the word Xiaomi, which means “millet” in Chinese.
Xiaomi produces all kinds of different products
Xiaomi’s main reputation is to build smartphones like Mi8, Mi Mix 2S and Redmi Note 5. However, the company also produces and markets many other products, which might surprise you some of them.
Among the company’s famous products, we can mention health-related wipes, drone, smart bulbs, vacuum cleaner robots, and power bank. In the meantime, you should not forget the security cameras and smart sports shoes. However, Xiaomi’s products are not limited to these, and you might not expect to hear the names of these products mentioned below. The company also produces products such as rice cookers, electric toothbrushes, travel pillows, luggage, mattresses, and even auto. We do not mean advanced pens like the S Pen in the Galaxy Note 8, but the usual ones with which you can write. Considering that Xiaomi is referred to as Apple East, the production of such products surprises many people.