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MI
| Xiaomi Inc. | |
|---|---|
| Headquarters | Haidian District, Beijing, China |
| Owner | Lei Jun (77.80% share) |
| Brands | Xiaomi, Redmi, Mijia, POCO |
| Area served | Worldwide |
| Company type | Public |
| Till Dec 2023 | |
|---|---|
| Total revenue | 271.0 RMB billion |
| Smartphone revenue | 157.5 RMB billion |
| Internet services revenue | 30.1 RMB billion |
| IoT and lifestyle products revenue | 80.1 RMB billion |
| Overseas revenue | 44.9% of total revenue |
| Connected IoT devices (excluding smartphones, tablets, and laptops) | 739.7 million units |
| Smartphone shipments | 145.6 million units |
| Monthly Active Users (MAU) | 641.2 million |
| Full-time employees | 33,627 |
Under Xiaomi Corporation, “Xiaomi Inc.” functions as a consolidated affiliated entity. Under this model, Xiaomi Corporation, rather than direct ownership, controls “Xiaomi Inc.” through contractual arrangements.
Under the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands, “Xiaomi Corporation” (previously known as Top Elite Limited) (the “Company”) was founded in January 2010 as an “exempted company” with limited liability. “Grand Cayman, KY1-1104, Cayman Islands” is the location of the corporation’s registered office.
By the end of 2023, Xiaomi (MI) had amassed 37,000 patents globally including “over 520 patents in the field of smart manufacturing.” The technological advancements made by Xiaomi EV in the areas of batteries, and “electronic control systems and motors” were awarded 65 and 60 patents, respectively — as stated over “ir.mi.com/system/files-encrypted/nasdaq_kms/assets/2024/04/25/5-36-08/2023%20Annual%20Report.pdf”.
At the moment, Xiaomi operates data centers in Singapore, Germany, and the United States.
In the logo, “MI” signifies “Mobile Internet.” The term “Mission Impossible” is another connotation of it, as Xiaomi (MI) encountered numerous obstacles in its early days that seemed insurmountable.
The company “Xiaomi Corporation” was established in April 2010 and went public on the Hong Kong Stock Exchange’s Main Board on July 9, 2018 (1810.HK).
Xiaomi (MI) released “MIUI,” their first firmware based on Android, on August 16, 2010. The number of “Monthly Active Users” (MAU) on MIUI hit 641 million worldwide as of Dec 2023. One of the most well-liked custom ROMs for Android is MIUI.
With its MIUI smartphone operating system, Xiaomi has created a “Natural Disaster Warning” system that gathers warning data on five different categories of disasters — meteorological, geological, marine, forest, and biological — from the China National Warning Center.
In the age of “everything being connected” (IoT devices), the existence of a vast number of intricate operating system branches frequently presents connectivity issues. As a solution to this difficulty, Xiaomi (MI) combined the core operating systems of “four systems” (Xiaomi MIUI, Mina, Vela, and CarOS) in 2023 into a single system known as “Xiaomi HyperOS.”
Xiaomi HyperOS is an operating system designed with human needs in mind, specifically for the “Human × Car × Home” smart environment. This is designed to link vehicles, smart home appliances, and personal electronics into a “unified, cohesive system architecture.” With the help of “large language model” (LLM) technology, Xiaomi HyperOS has created eight main subsystems, one of which is the AI subsystem.
With extra capabilities like “accessible haptic feedback, Xiaomi Ambient Sound Recognition, and AI Dialing Assistant,” Xiaomi HyperOS now provides full services for individuals with disabilities from “three perspectives” (vision, hearing, and body).
The worldwide security and privacy certifications “ISO 27001, ISO 29151, and ISO 27018” have been awarded to Xiaomi (MI).
The Trusted Execution Environment (TEE) from Xiaomi (MI) is a hardware-isolated “operating system” designed to safely manage sensitive data and meet the security needs of various devices and applications. The China Cybersecurity Review Technology and Certification Centre (CCRC) granted MI’s in-house designed “TEE” the country’s first EAL5+ certificate, the highest security certification available for TEE systems.
For the fifth consecutive year, Xiaomi (MI) was in the “Fortune Global 500 list” (ranked 360th for the year 2023).
In mainland China, Xiaomi debuted the “CyberDog2,” a quadruped robot (MiLM-6B) that is influenced by biology, in August 2023.
MI TV shipments were at the top-ranked in mainland China during the first half of 2023, according to “All View Cloud” (AVC). According to Canalys, in terms of health and fitness situations, the shipments of MI “TWS earbuds” ranked first in mainland China in the second quarter of 2023, while the shipments of “wearable bands 13” ranked second in the same period.
As of August 2023, the 6 billion-parameter self-developed “large language model” (LLM) from Xiaomi (MI) was the top-ranked Chinese language LLM on both the CMMLU and C-EVAL lists.
The five primary in-house-developed technologies of “Xiaomi EV” — electromechanical motor, battery, smart cabin, die-casting, and autonomous driving — were unveiled at the company’s EV Technology Launch event in December 2023. Additionally, MI unveiled the “full-size, high-performance,” eco-technology vehicle known as the Xiaomi SU7.
Three essential perceptual technologies for smart driving — Adaptive BEV Technology, Super-Res Occupancy Network Technology, and Road-Mapping Foundational Model — have been created by MI for the “Xiaomi Pilot Autonomous Driving.” The industry’s first “adaptive BEV technology,” from MI, enables more accurate parking situations as well as a larger range of urban settings.
The Inverted Cell Technology used in the Xiaomi SU7 Series battery surpasses conventional approaches in terms of “heat dissipation and thermal insulation.” It has undergone the most rigorous battery safety testing in the world.
Redmi and Xiaomi are the brands under which Xiaomi (MI) smartphones are sold (such as “Redmi Note 13” and “Xiaomi MIX Fold 3”).
In 2023, Xiaomi (MI) was recognized as an “Industry Mover” in S&P Global’s Sustainability Yearbook 2023 (China Edition), included in Fortune Magazine’s list of China’s “Most Admired Companies”, and recognized for the third year in a row by Forbes as one of the “World’s Best Employers.”
In January 2024, Xiaomi (MI) received the “Gold Medal” in EcoVadis’ sustainability assessment, this shifted it in the list of top 3% of “communication equipment companies” globally. In the hardware and technology category, Xiaomi was recognized with the “Best ESG award” at the 2023 Institutional Investor Asia Pacific (Ex-Japan) Executive Team Awards.
Xiaomi was operating 1,793 offline retail locations on the Chinese mainland by the end of 2023, and 91.86% of the country’s cities were served by its “offline store service infrastructure.”
The IoT Kitemark was awarded to the “Xiaomi Smart Camera Tripod Head Version, Xiaomi Mesh System AX3000 router, and Mijia mobile app.” TUV Rheinland Product Network Security and Privacy Protection Standard Certification has been awarded to MI’s Robot Vacuum Mop 2 Overseas Version, and “UL IoT Security Gold Certification 25” to Electric Scooter 4 Pro.
With the advancement of chip design techniques, MI has unveiled the first 3-in-1 fast-charging system in the world, including “wireless fast charging, wired fast charging, and reverse wireless charging.” It is estimated that over 100 million smart gadgets are using this technology.
The focal point of MI’s office premises, the Beijing Xiaomi Science and Technology Campus, has earned both the “2-star China Green Building Design Label (CGBL) certificate” and the “Leadership in Energy and Environmental Design (LEED) Platinum Certificate.”
Xiaomi (MI) has made a public pledge to achieve “carbon neutrality” by 2040 and to run its own operations entirely on renewable energy by 2035.
The goal set by Xiaomi is to recycle 38,000 tonnes (Mt) of electronic garbage/waste over the five years (2022–2026). By the end of 2023, “44% of the trash recycling objective” (set in 2022) had been met.
For the first time, Xiaomi (MI) was certified Gold by the “Alliance for Water Stewardship” (AWS). Applying for the AWS certification, Xiaomi Science and Technology Campus is the first “commercial workplace” in the world.
With regard to all pertinent Group products, Xiaomi (MI) completed the ISO 14001 and “ISO 45001” (health and safety management) system certifications in 2023. Xiaomi attained zero significant EHS mishaps, zero significant fire incidents, zero significant financial losses, “zero environmental contamination and events that damaged the company’s reputation,” and zero cases of “occupational illness or health risks” in 2023. Xiaomi has enhanced its internal EHS (Environmental, Health, and Safety) management quality and competence, as evidenced by the 42 “certified internal EHS audits” it has by the end of 2023.
In 2023, MI was named China’s Best Employer in Innovative Practices of the Year by “Forbes China,” placed in the top three among China’s Most Attractive Employers by Universum, and featured in the Forbes 2023 World’s Best Employers list.
As a member of the UN Global Compact (UNGC), Xiaomi is in favor of the “Sustainable Development Goals” (SDG) that the UN has set forth. Xiaomi currently offers more than 40 “energy-efficient goods” and reduces packing by up to 40% by using the One Paper Box design.
Xiaomi (MI) has developed a new embedded intelligent development tool called the AIoT Box. Its modular design makes it easier to develop personalized intelligent hardware solutions. It may be linked to the “Mijia app,” enabling the building of an IoT hardware prototype to be simulated.
In partnership with the Chengdu Institute of Care-Life, the Xiaomi “smartphone and TV” are the first smartphone and TV platform to have the earthquake early warning feature. Xiaomi has effectively sent out around 92 million alerts about earthquakes with a magnitude of “four or higher” globally by the end of 2023.
In 2023, MI was the recipient of multiple awards, including the 2nd Integrity and Compliance Innovation Award for “Private Enterprises.” Every individual holding purchasing positions at the MI signed the “Conflict of Interest Declaration Commitment” in the same year.
“Xiaomi Germany” donated 17,000 euros and “built a senior activity facility while working with an outside organization” in Duesseldorf for the elderly during Christmas 2023.
Official Website of “Xiaomi Inc.”: https://www.mi.com/
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