About 1 in 5 Americans is dependent on a smartphone. Also, every second, 127 new devices are connected to the internet.
Technology has come a long way, from the time of abacus, analog computers, etc., to the era of smartphones and laptops, which are sophisticated and can perform multiple tasks. What’s more, is that brands have capitalized on custom web development to ensure that consumers can locate them on their devices easily.
Tech Companies such as Apple, Samsung, etc., have done a lot in terms of innovation, by creating various technological products, such as phones, tablets, laptops, digital wristwatches, etc. Even though most of this production is based on outsourcing and out-staffing, they have over time carved their brand names into household names.
These big tech giants have been around for a long time and have been game-changers for many technology-savvy individuals. Apple and its famous iPhones and iPads are the favorites of many users and have caught the hearts of many people.
However, in not-so-recent times, a disruptive and innovative company from China has emerged to challenge these giant companies by carrying out disruptive innovations to change the face of tech.
Founded in Beijing, China, in April 2010, Xiaomi has grown from being a locally established tech company in China to making global moves, going into the West to invade the tech market.
Now, it may seem like they stand no chance with these giant companies mentioned above. However, Xiaomi has proven over time that they are not anywhere close to the underdogs as their strategy to dominate the tech industry keeps smashing boundaries.
High-Grade & Affordable Smartphones
Naturally, high-quality products are usually sold at high prices to commensurate with the value of the product. However, Xiaomi introduced a game-changer, in which they produce high-quality gadgets, similar in quality and look to Apple Products, but sell them at low prices. This is a shock as one would wonder how they manage their funds, with such a strategy.
Guess no further. To achieve this, they employ the strategy of keeping each model of their gadgets on the market for a long time, far longer than other brands do. It is to enable them to still sell a model of the product, even when the prices of its components have reduced.
The Customer is King
They are also more customer-centric, as they produce in small batches, allowing for easy changes in the next model of their products, which is done based on their users’ feedback.
This is an approach, which is different from what people are used to, when it comes to smartphones and their related gadgets, where they are only given the next model of the product, while having no say, in how it would look or function.
Also, Xiaomi has no physical stores where they sell their products. Instead, people purchase their gadgets from online stores.
And they also do not spend money to make people aware of new products available. They rely on social media and mouth-to-mouth advertisements. This, to an extent, helps them to reduce costs. Hence, they can afford to give high quality at low prices to entice the market.
Xiaomi has broken the popular stereotype about Chinese products, which states that Low Prices = Low Quality.
When it comes to the innovative prowess of this Chinese Tech Wonder, Xiaomi once created a bezel-free phone known as Mi Mix and sold it as a limited version. It sold out in about 10 seconds! Whoops!
In addition to this, they also have their Operating System, known as the MIUI, which is an amazing OS that is fast, secure, and highly customizable. We all know that a major benefit of a great OS is the capacity for exciting apps.
Now, beyond the sales of smartphones, Xiaomi also wants to sell a complete portfolio of connected devices that help people do more. They are consistently changing out the perception of tech with a lot of innovations and patents acquired.
One of their patents is for a new foldable smartphone. This unique feature would enable the folding of smartphones for users’ enjoyment.
Also, there is a patent for built-in wireless earphones in phones. While this is disruptive, removing the need to buy a separate earphone for your smartphone, questions are still being raised to check the necessity for that and whether it would satisfy users’ needs for advanced technology.
Additionally, there is another patent for a phone with a detachable display. This is a new wave, which suggests that the display screen of a phone can be detached from its body and used independently on its own. However, this would mean that the detachable screen has its power source to help it function when detached. How disruptive can tech get!
There is also a patent for an under-screen camera, wherein when pictures are to be taken, the camera would appear slightly in its position. And when it is not in use, the side of the phone (where the camera appears) would go back to normal.
Xiaomi targets the middle class, who wants high-quality devices, but may not be able to afford them and are willing to pay a little more if they could get products of such quality at a reasonable price, lower than the premium prices. And this Xiaomi has offered them.