Xiaomi Corporation 2018 Reports Strong Operating Results in Second Quarter Revenue Soars 68.3%, Net Profit Reaches RMB14.633 B
When Xiaomi released the Mi Electric Toothbrush under our “Mi Ecosystem” sub-brand, we were met with questions as to why we are creating products outside of our traditional smartphone offerings. People couldn’t understand why we were branching out to become a “supermarket”. And we’ve received this type of response in the past with our other products like the Mi Air Purifier, towels and suitcases.
And the answer is simple: Xiaomi is much more than a smartphone company. We are a company that provides innovation to everyone at every level — from smartphones and technology to IoT connected smart products to the basic everyday tools like power banks, backpacks and pens.
We live in a connected world and we strive to provide the latest technology and products to our consumers. You can understand our current product line-up in three groups: smartphones, smart products and non-smart products.
However, we don’t lose focus even with this array of products. No one company can be the best at everything, so while we focus on our core products, we invest in companies that are able to take us into new and exciting categories. We have so far invested in 89 companies that design and manufacture products beyond our three core product categories: smartphones, smart TVs and smart routers. Among these, many have been incubated by Xiaomi from their founding. In fact, we are the world’s most successful hardware incubator.
You can understand our current product line-up in three groups: smartphones, smart products and non-smart products.
Smartphones are at the center of everything we do, which has attracted a large group of users who are young and Internet savvy. From our latest Mi 6 to Mi MIX to our Redmi phones, we are able to offer the latest technology at very accessible prices.
The second product division is our smart devices that can be connected to our IoT platform, like Mi Water Purifier, Mi Induction Heating Rice cooker and others. Our hope is that these smart products help enhance our Mi Fans’ lives, where traditional non-connected products cannot. For example, with our smart Mi Air Purifier, we’re able to turn the unit on with a Mi Home app during our evening commute home.
The third is our “non-smart” products, like towels, and suitcases. While they are not smart products, they are products we inevitably need in our everyday lives. One of our favorite examples is the 90 Point Luggage, which is reliable, attractive and priced disruptively for more people to enjoy the high quality of this product.
We are a company that constantly seeks innovation at every level and the opportunities surrounding smart products are unending. We understand the rise in demand for smart products, as after all, we too reap the benefits of having a smart Mi Air Purifier. However, to fulfill our mission of “Innovation for Everyone”, we also strive to bring high-quality “non-smart” consumer products to our users.
When asked about the secret of Xiaomi’s success, the answer is largely our robust Mi Fan base. Our fans have shared their excitement,