“Xiaomi” is privately owned ChineseElectronics Company headquartered in Beijing,capital city of China. It is one of the local largest enterprisesthat design, manufacture, and sell smartphones and consumer electronics.
According to the statistics, “Xiaomi” has recently become the world’s 5th largest smartphone company. The young electronic star has captured 5.1% global market share compared to1.8% this time last year, with a growth of 3.3% within one year. Unbelievably, “Xiaomi” is only four years old, and just a“freshman” in the market.
“Xiaomi”s’ main strategies leadto its success. It’s differentiated as cheap price, clearly targeted market and clear brand image.The price of “Xiaomi” phone ranges from 80 to 400 US dollars, which is very cheap comparing to global rivals iPhone and Samsung. It targets the middle to lower income customers who desire an affordable smartphone. Xiaomi satisfies all the wants and needs of this type of customers: cheap price, big screen, nice looking and easy to use.
There is a rapidly growing demand of smartphone in poor emerging markets, notably in India, Africa, South America and Southeast Asia. “Xiaomi” will grasp those market opportunities to position its’ smartphones with cheap price and competitive qualities what an iPhone and Samsung has.It will generate greater demand in the future. “Xiaomi” is heading to ten new countries this year, it is going global.
Olson, Parmy. “China’s Xiaomi Becomes World’s 5th Largest Smartphone Maker “. 31 July 2014. Forbes. 5 October 2014.