Hiya. Brady here.
When you hear the name Xiaomi, you probably think of phones—cheap ones. For people who don’t speak Chinese, the name may even look a little funky. Its pronunciation isn’t immediately clear.
In the past, critics called Xiaomi an Apple knockoff. There were parallels in the way Lei Jun, Xiaomi’s founder, sculpted his company’s (and his own) image, but it has come a long way. Thanks to a series of investments and acquisitions, Xiaomi has developed a hefty catalog of home appliances and consumer electronics. Plus, it’s building a division to make electric cars.
But the bread and butter of Xiaomi is still smartphones, and the company is shedding its image of a cheap handset maker to move into the premium segment. Right now, Lei has a plan for Xiaomi to displace Apple as China’s top-selling premium smartphone brand. And he might just pull it off.
Jiaxing followed the story. You can read her report here.
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