With high-quality products, solid marketing strategy and charismatic leader, Xiaomi Technology developed into a $4 billion worth company and on its way to become China’s dominant phone maker three years from its creation.
Xiaomi Technology has become a leading brand in the world’s largest mobile market, offering a plethora of smartphone models that drew instant attention from consumers because of its quality and stylishness.
The people in the mobile industry even tabbed Xiaomi as the next big thing and a Chinese Apple in the making. Ironically, Xiaomi Technology is also run by an zealous Steve Job follower in Lei Jun. Like the Apple founder, Xiaomi top honcho appeared in public sporting jeans and a black top.
Moreover, his approach in business was also taken from Steve Jobs’ school of hardknocks, always looking for simple solutions to every complex problem.
Lei, who founded the Xiaomi Technology in 2009, said comparing him to Steve Job would be awesome but admitted the title is quite a big shoe to fill in.
“China’s media say I am China’s Steve Jobs,” Lei told Reuters in an interview published today, according to CNET.com Friday. “I will take this as a compliment but such kind of comparison brings us huge pressure.”
Unlike other tech manufacturers, Xiaomi is only producing smartphones with majority of them are sold online in small quantities. However, Xiaomi pinned their success on the nice combination of short supply and their high-quality products.
For example, the Xiaomi MI-Two is very much similar to the leading smartphone brands Samsung Galaxy S3 and iPhone 5 and yet it only cost 50 percent cheaper than Apple’s phone in the Chinese market. The model also boasts better graphic performance, thanks to MI-Two’s combination of a quad-core Qualcomm Snapdragon S4 CPU and Adreno 320 GPU.
Xiaomi has so far sold 300,000 units of MI-Two smartphones, though the company intentionally limit production of the device to capitalize on the consumers’ wants and monitor surpluses.
In an interview with Reuters.com, Lei forecasted seven million smartphones to be sold by the end of the year.