Xiaomi Corporation recently announced details of its global offering and its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited.
Lei Jun, executive director, Founder, Chairman and Chief Executive Officer of Xiaomi said, Today we present ourselves to you as we prepare to enter a new stage in our journey.
“We are an innovation-driven internet company committed to the principle of ‘amazing products at honest pricing’. Leveraging our unique “triathlon” business model, we maintain excellent design and outstanding quality in our products, while pricing our products as close as possible to cost by selling them to users through highly efficient online and offline new retail channels. We then provide our users with a range of comprehensive and engaging internet services.
“Xiaomi’s achievements so far illustrate the strength and resilience of our model. Within seven years of our founding, our annual revenue exceeded RMB100 billion, achieving a growth rate that many traditional companies are unable to match.
“We believe that the potential of our global business is limited only by our imagination. With our unique ecosystem model, we have mobilized many like-minded entrepreneurs, and we are not only changing industries in China, but also elsewhere in the world.
“Fundamentally, the Internet is all about transparency, efficiency, and equality. We want to allow everyone to enjoy the benefits of technology. That is the goal that all Xiaomi employees and I are working tirelessly for.”
An internet company with smartphones and smart hardware connected by an IoT platform at its core, Xiaomi has quickly become the fastest growing internet company and the second fastest growing company globally, as measured by organic revenue growth compared to publicly-listed profitable companies with revenue of over RMB100 billion in 2017, according to iResearch.
Xiaomi has continually broken growth records:
- Annual sales exceeded US$10 billion in 2014, four years after inception, which is the fastest in history, according to iResearch
- Achieved RMB100 billion in revenue just seven years after inception
- World’s largest consumer IoT platform in terms of the number of connected devices (excluding smartphones and laptops), according to iResearch
- Present in 74 countries and regions as of March 31, 2018
- Ranked number one in India in terms of smartphones unit shipments in the fourth quarter of 2017 and also the top five in 15 markets, according to IDC