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Xiaomi Technologies’ Past and Future

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Xiaomi Technologies’ Past and Future

Caijing Magazine,

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Chinese smartphone maker Xiaomi is betting on the Internet of Things.

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8

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Recommendation

In the aftermath of Xiaomi’s 2018 IPO on the Hong Kong Stock Exchange, reporters Zhang Jun and Chen Qin of Caijing Magazine retrace Xiaomi’s corporate development and assess the company’s strategy for the future. The company’s decision to embrace and invest in the Internet of Things (IoT), they explain, may help set it apart from the smartphone competition. The article doesn’t explain how the company’s own Internet services will tie into Xiaomi’s grand plans, given that the branch makes up 8.6% of total revenue but 39% of total profit. Nonetheless, getAbstract recommends this article to entrepreneurs, bankers, people in the tech industry and businesspeople with interests in the Chinese market.

Summary

Chinese smartphone maker Xiaomi officially listed on the Hong Kong Stock Exchange amid much fanfare on July 9, 2018. While Xiaomi raised $4.7 billion, it fell short of the company’s $10 billion target. On opening day, prices fell to HK$16.60 [$2.11] from an issue price range between HK$17 to HK$22. Apparently, Xiaomi didn’t convince investors of its claim that it was a unique combination of hardware manufacturer, Internet service provider and e-commerce company rather than merely a smartphone maker.

Founded in 2010, Xiaomi has enjoyed a meteoric rise. It was valued at $45 billion and sold the most smartphone units in China in 2014 and 2015. Xiaomi’s strategy was to sell smartphones and smart devices at wafer-thin margins, pulling in profit through sales quantity and services. In 2016, Xiaomi suffered a setback: Domestic sales fell 36%. Competing smartphone brands Oppo and ...

About the Authors

Zhang Jun and Chen Qin are a reporters for Caijing Magazine, a leading financial news outlet in China. 

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