- Business
- Xiaomi Corporation (1810.HK), founded in April 2010 and headquartered in Beijing, China, operates as a Chinese multinational technology company focused on consumer electronics, smart manufacturing, and Internet of Things (IoT) platforms; it ranks as the third-largest smartphone vendor globally in 2025 and the youngest entrant on the Fortune Global 500 at position 338. The company designs, manufactures, and sells smartphones under brands including Xiaomi, Redmi, and POCO; IoT and lifestyle products such as smart TVs, wearables (smartwatches and fitness trackers), robot vacuums via its stake in Roborock, air purifiers, security cameras, power banks, headphones, Bluetooth speakers, tablets, laptops, and electric scooters; electric vehicles through Xiaomi Auto including the SU7 sedan launched in March 2024 and the YU7 SUV debuted in June 2025; and internet services powered by Xiaomi HyperOS (formerly MIUI) with features like HyperAI for enhanced device connectivity across human-car-home ecosystems. Xiaomi maintains operations in over 100 markets worldwide, emphasizing affordable pricing through direct online sales, flash sales, and extended product lifecycles of up to 18 months, while serving consumers in smartphones (roughly 60% of revenue), IoT/lifestyle products (30%), and services (10%). Recent developments include the May 2025 launch of its in-house 3nm XRING O1 processor integrated into Xiaomi 15S Pro smartphones and Xiaomi Pad 7 Ultra tablets; the August 2025 raise of RMB10 billion ($1.4 billion) for the Xiaomi Intelligent Manufacturing Fund targeting semiconductors, AI manufacturing, and related technologies; ongoing expansion of its EV segment with independent production licensing secured in July 2024 and a Beijing factory capable of producing an SU7 every 76 seconds; the March 2025 debut of the Xiaomi 15 flagship smartphone series with AI upgrades; a strategic shift announced in November 2025 to reduce annual smartphone models in favor of flagship and high-demand mid-range devices; and the April 2025 release of the MiMo-7B AI reasoning model alongside HyperOS 3 updates enhancing AI photo capabilities. Subsidiaries like Black Shark for gaming devices and POCO for mid-range phones bolster its portfolio, with partnerships including Leica for smartphone cameras since 2022 and a 2023 global patent cross-license with Huawei covering 5G technologies.