Xiaomi, popularly known as a smartphone manufacturer is growing its market share in other line of consumer electronics across international markets. The Chinese tech giant started with selling affordable flagship quality smartphones and now has diversified into several line of tech products. The company’s rise came at a time when other market players such as Samsung and Apple already had billions of dollars in their pockets and established supply channels.
Xiaomi never just wanted to be a smartphone company. It wanted to be an ecosystem company. People generally look at Xiaomi and see it as a Chinese company that sells super affordable smartphones. But that’s not true. It is an Internet-of-Things (IoT) company that wants to be a part of its customers’ lives.
If you didn’t know already, Xiaomi sells TVs, laptops, fitness products, home electronics such as air purifier, water purifier, robot vacuum, smart LED bulb, security camera, earphones, Wi-Fi routers, trimmers, power banks and more just in India. You can also get running shoes from the company. Does Xiaomi sound like a smartphone company anymore?
Xiaomi’s Smartphones Act as Ecosystem Manager
The smartphones from the company, which are usually the first thing anyone buys from Xiaomi act as an ecosystem manager or an ecosystem enabler. In simple words, you can call Xiaomi’s smartphones a remote to control the other products in the ecosystem such as home electronics, and more.
Not every product from the company has an integration with the other products, but it does help in building trust in the products from Xiaomi.
Xiaomi has more than one companies doing its work in India and other global markets. I am talking about Redmi and Poco. Both are super successful subsidiaries in the tech market. Just like Xiaomi, both Redmi and Poco are known primarily for their smartphones.
Redmi has also started offering an ecosystem of products however such as smart bands, earphones, and more.
Xiaomi is putting more and more money into developing and launching more IoT products as fast as possible to capture the most of the connected world.
Xiaomi is also planning to enter the electric car segment in the coming few years. The company has already started making moves in that regard.
There’s nothing Xiaomi doesn’t want to do when it comes to the consumer market.
Xiaomi B2B Business
One of the segments where Xiaomi can surely grow further is in its B2B business. In the B2C segment, Xiaomi is one of the top choices for consumers when it comes to electronics. The company is selling products both in the affordable as well as premium segment.
But because the Chinese tech giant has so much of money, it can surely invest more into growing digital services and R&D for 5G and more to aggressively take over the B2B segment as well.
Xiaomi has been able to build a solid brand and trust in a very short-time with its aggressive marketing and excellent products. The company continues to diversify product lines further and keeps growing because of offering affordable solutions to consumers.