Lei Jun and six partners established Xiaomi in Beijing in 2010.
Xiaomi began as an internet company focused on software, launching its MIUI Android-based operating system before producing smartphones. The company released its first smartphone, the Xiaomi Mi 1, in 2011. Its early strategy emphasized online sales, competitive pricing and strong user communities.
The name Xiaomi is commonly translated as “little rice,” although the company has also connected the word “mi” with ideas such as mobile internet. Xiaomi later expanded beyond phones into televisions, smart-home devices, wearables and other consumer electronics.
Xiaomi is sometimes mistaken for a traditional Japanese or Korean electronics brand, but it was founded in China and is headquartered in Beijing. Lei Jun, an entrepreneur and software executive, served as the company’s founding chief executive. Xiaomi listed its shares on the Hong Kong Stock Exchange in 2018.