ADVERTISEMENT

Founder of China's biggest tech startup speaks on secrets of its success

Founded in 2010, Xiaomi was able to capitalise on a massive gap in the market.

Xiaomi founder, Lei Jun.

In just five years, the Chinese tech company, Xiaomi, has grown from nothing to become the most valuable private tech startup in the world.

According to its 45-year-old CEO, Lei Jun, who was interviewed in The Wall Street Journal, it's simply about "seizing the right opportunity."

"Even a pig can fly if it stands at the center of a whirlwind," Jun said in a Monday front-page story discussing the company's meteoric rise.

Founded in 2010, Xiaomi was able to capitalise on a massive gap in the market. Western brands tended to be too pricey, while in China, knock-offs and fakes proliferated. Enter Xiaomi, which launched its first handset in 2011, boasting that it was faster than the iPhone — and half the price.

ADVERTISEMENT

From the start, the company has been extremely savvy about its marketing. It has extensive online communities, which it engages with and offers flash sales too, as well as hosting a number of other unique events. It holds periodic "festivals" for its "Mi-Fans" (as its devotees call themselves), and has even been known to throw them parties in expensive nightclubs.

Lei Jun wasn't always so successful, and this played a part in his determination to catch trends — like mobile — early. "He reflected a lot on himself, on [former employer] Kingsoft, and why we missed the big trends in Internet,"Kingsoft CEO Hongjiang Zhang told the Journal. "He's someone who really wants to do something that has a huge impact."

Today, Xiaomi is fighting Apple to be number one in China, and expanding into new territories in emerging markets, including India and soon Latin America.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Kaduna Gov grants scholarship to 137 rescued schoolchildren, son of late teacher

Kaduna Gov grants scholarship to 137 rescued schoolchildren, son of late teacher

Siamese twin gets married while still conjoined with her sister

Siamese twin gets married while still conjoined with her sister

LP BoT kicks out Abure despite convention victory, takes over party affairs

LP BoT kicks out Abure despite convention victory, takes over party affairs

6 Labour Party lawmakers defect to PDP in Enugu State

6 Labour Party lawmakers defect to PDP in Enugu State

Tinubu's special assistant donates food items to 1,700 residents in FCT

Tinubu's special assistant donates food items to 1,700 residents in FCT

Anambra PASAN begins strike over Soludo's failure to grant financial autonomy

Anambra PASAN begins strike over Soludo's failure to grant financial autonomy

Governor Sanwo-Olu pays ₦4.48 billion to 1,455 retirees in accrued pensions

Governor Sanwo-Olu pays ₦4.48 billion to 1,455 retirees in accrued pensions

Court discharges ex-AGF Adoke, 6 others in Malabu oil scam case

Court discharges ex-AGF Adoke, 6 others in Malabu oil scam case

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT