Xiaomi builds and sells smartphones and other consumer devices, including the $205 Mi 4i and the $150 Redmi. The company has emphasized India as a key market since entering in July 2014 through an exclusive Flipkart deal and later expanding to physical stores, Amazon and Snapdeal. Xiaomi sold 61 million smartphones in 2014 and ranks third globally by shipments; IDC places it fifth in India, and it sold one million units in India within its first five months. CEO Lei Jun projected shipments could reach 100 million in 2015 as the company expands internationally and adds new devices. Xiaomi raised $1.1 billion in late 2014 at a reported $45 billion valuation, a figure the company cited when discussing its market standing. The company is leveraging product localization (Mi 4i) and strategic partnerships to deepen its presence in India. Xiaomi is primarily a smartphone maker and, per the article, is now the world’s third‑biggest smartphone vendor. The company has been expanding aggressively in emerging markets including Southeast Asia, Brazil, Mexico and India, selling over 100,000 units per week through online retailers like Flipkart. Xiaomi sold about 19 million phones in 2013 and said it hoped to sell at least 40 million in 2014. Beyond phones, Xiaomi has moved into other hardware and content, including a $200 million investment in appliance maker Midea and roughly $1 billion invested in online video platforms Youku Tudou and iQiyi. Its business model emphasizes low-priced, quality smartphones and generating profits from selling software to device users. Reported profitability is unclear: the WSJ put last year’s net profit at $566 million, while a Reuters-cited regulatory filing showed $56 million for Xiaomi Inc., a discrepancy Xiaomi said stems from the filing covering only a subsidiary.

Total raised

$1.0B

Funding rounds

2

Latest round

Equity

Latest activity

Dec 2014