Xiaomi Inc. (stylized as Mi) (Chinese Mandarin: [ɕjǎumì], Chinese: 小米 科技; pinyin: Xiǎomǐ Kējì, literally "millet technology"; English: /ˌʃiːaʊˈmiː/ or /ʃiˌaʊˈmiː/) is a Chinese electronics and software company headquartered in Beijing. Xiaomi designs, develops, and sells smartphones, mobile apps, laptops and related consumer electronics.
Xiaomi released its first smartphone in August 2011 and has rapidly gained market share in China to become China's largest smartphone company in 2014. As of 2017 Xiaomi is the world's 5th largest smartphone company. Xiaomi has expanded into developing a wider range of consumer electronics, including a smart home (IoT) device ecosystem.
Xiaomi has 15,000 employees in China, India, Malaysia, Singapore and is expanding to other countries such as Indonesia, the Philippines and South Africa. Lei Jun, the founder and CEO, has an estimated net worth of US$6.8 billion. He is China's 24th richest person in 2017. Xiaomi is the world's 4th most valuable technology start-up after it received US$1.1 billion funding from investors, making Xiaomi's valuation more than US$46 billion.
Xiaomi is the Chinese word for "millet". In 2011 its CEO Lei Jun suggested there are more meanings than just the "millet and rice." He linked the "Xiao" part to the Buddhist concept that "a single grain of rice of a Buddhist is as great as a mountain," suggesting Xiaomi wants to work from the little things, instead of starting by striving for perfection, while "mi" is an acronym for Mobile Internet and also Mission Impossible, referring to the obstacles encountered in starting the company. He also stated that he thinks the name is cute. In 2012 Lei Jun said that the name is about revolution and being able to bring innovation into a new area. Xiaomi's new 'Rifle' processor has given weight to several sources linking the latter meaning to the Communist Party of China's "millet and rifle" (小米加步枪) revolutionary idiom during the Second Sino-Japanese War.
Xiaomi's products are manufactured by Foxconn and Inventec. Xiaomi makes many products and its core products are smartphones, TVs and routers.
