Xiaomi

Xiaomi Corporation is a Chinese consumer electronics and smart manufacturing company whose business now spans smartphones, connected devices, household appliances, software, internet services, electric vehicles and artificial intelligence. Founded in 2010, Xiaomi grew from an MIUI-and-smartphone startup into a global technology group built around its Human × Car × Home ecosystem strategy.

Smartphones remain central to Xiaomi's scale, but the company increasingly combines personal devices, smart-home products and vehicles through HyperOS, AI and a large AIoT platform. Xiaomi's development beyond smartphones has made it unusual among major consumer electronics companies: it now competes simultaneously in mobile devices, connected homes, software, AI and automobiles.

Last updated: August 2026

About Xiaomi

Xiaomi Corporation is headquartered in Beijing and is listed on the Main Board of the Hong Kong Stock Exchange. Xiaomi describes itself as a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core. Its products are present in more than 100 countries and regions.

Lei Jun, Xiaomi's founder, remains chairman and CEO. The company has expanded well beyond the affordable-smartphone reputation that defined much of its early growth, developing a much broader portfolio of personal devices, appliances, digital services, electric vehicles and AI technologies.

The clearest way to understand Xiaomi today is through its Human × Car × Home strategy. “Human” represents personal devices such as smartphones, tablets and wearables; “Home” covers appliances and connected household products; and “Car” represents Xiaomi's growing smart-EV business. HyperOS and AI form important software layers connecting those environments.

Xiaomi's scale is substantial. In Q2 2026, it shipped 31.2 million smartphones and remained the world's third-largest smartphone vendor by shipments, according to Omdia. Its AIoT platform had more than 1.16 billion connected devices excluding smartphones and tablets, while the company delivered more than 104,000 vehicles during the quarter.

What Does Xiaomi Do?

Xiaomi operates across several connected areas of consumer technology rather than relying on a single product category.

Its largest established activities are smartphones and AIoT products. These include mobile phones, tablets, wearables, audio products, televisions, routers, cameras, household appliances and other connected devices.

The company also operates internet services linked to its user base, including advertising, gaming and other digital services.

Electric vehicles have become another major activity. Xiaomi entered production automobiles with the SU7 and subsequently expanded its vehicle lineup, bringing automotive hardware into the same ecosystem as its phones and connected-home products.

AI is increasingly used across these businesses. Xiaomi develops its MiMo family of models, AI-assistant capabilities, robotics research and technologies for smart manufacturing. It has also increased investment in internally developed semiconductor technology as part of a broader push into foundational technologies. Reuters reported in August 2026 that Xiaomi introduced the XRING O3 smartphone processor as part of an effort to gain greater control over product features and reduce reliance on external chip suppliers.

The result is a company whose activities now extend across four broad areas:

• personal computing and mobile devices;

• smart-home and connected consumer products;

• vehicles and mobility;

• software, AI and internet services.

Xiaomi Business Model

Xiaomi's business model combines hardware scale, ecosystem expansion, software integration and digital services.

Smartphones remain one of the main entry points. A customer may begin with a Xiaomi or REDMI phone, then add a smartwatch, earbuds, tablet, television, robot vacuum or another connected product.

That matters because Xiaomi's model becomes more powerful when a customer owns several compatible products rather than just one.

As of June 2026, Xiaomi reported approximately 1.1608 billion IoT devices connected to its AIoT platform, excluding smartphones and tablets. Around 24.6 million users had five or more devices connected to the platform. The second figure is especially useful because it gives an indication of ecosystem depth rather than simple hardware volume.

The model can be simplified into four layers:

HyperOS helps connect those layers at the software level. Xiaomi's goal is not simply to sell many unrelated devices, but to make compatible devices more valuable when used together.

This creates an ecosystem effect: the more Xiaomi products a customer uses, the more important software compatibility, shared services and cross-device functionality become.

How Does Xiaomi Make Money?

Xiaomi currently reports its business through two broad segments: Smartphone × AIoT and Smart EV, AI and Other New Initiatives.

In Q2 2026, Xiaomi reported total revenue of approximately RMB108.9 billion. Smartphone × AIoT generated RMB84.0 billion, while Smart EV, AI and Other New Initiatives contributed RMB24.9 billion.

Smartphones remain a major revenue source, but their strategic importance goes beyond direct sales. Phones place Xiaomi's software and accounts in the hands of millions of customers who can later adopt additional products.

IoT and lifestyle products widen that relationship. These products allow Xiaomi to participate in more areas of a customer's daily life, ranging from personal wearables to major household appliances.

Internet services operate differently. They generate revenue from Xiaomi's installed user base rather than relying solely on a new hardware purchase. This business is smaller than hardware by revenue but has historically carried much higher gross margins.

Electric vehicles are quickly becoming financially significant. Xiaomi generated RMB23.9 billion specifically from Smart EV sales in Q2 2026 and delivered 104,199 vehicles during the quarter. Reuters reported that EV, AI and other new initiatives represented around 23% of group revenue in Q2 2026, up from 18.3% a year earlier.

Research and development should be viewed separately from these revenue streams. It is a cost and strategic capability rather than a source of revenue. Xiaomi continues to spend heavily on AI, EVs, semiconductors, operating systems and other foundational technologies.

Products and Services

Smartphones

Smartphones remain Xiaomi's most recognizable products and one of its largest businesses.

Xiaomi competes across several price ranges through Xiaomi Series and REDMI products, while POCO also appears within its global mobile portfolio. The company historically built much of its reputation through high specifications at competitive prices, but it has increasingly pushed into premium smartphones as well.

In Q2 2026, Xiaomi shipped 31.2 million smartphones worldwide. Omdia ranked it third globally behind Samsung and Apple, with Xiaomi ahead of OPPO and vivo in shipment volume.

Tablets, Wearables and Audio

Xiaomi sells tablets, smartwatches, fitness bands, wireless earbuds and other personal devices designed to operate alongside its smartphone ecosystem.

These categories are significant in their own right. Xiaomi has reported strong global shipment positions in tablets, wearable bands and true wireless audio products.

From a business perspective, these products increase the number of devices connected to each customer account and reduce Xiaomi's dependence on smartphones alone.

Smart Home and AIoT Products

Xiaomi has developed one of the world's largest consumer connected-device ecosystems.

Its portfolio includes televisions, security cameras, routers, speakers, lighting products, robot vacuum cleaners, air purifiers and other home products. Depending on the market, Xiaomi also sells larger appliances such as washing machines, refrigerators and kitchen products.

The Xiaomi Home application provides a central control layer for many compatible devices.

This part of the business is strategically important because it turns Xiaomi from a company customers interact with through one phone into a company that can have multiple devices inside the same household.

Xiaomi HyperOS

Xiaomi HyperOS is Xiaomi's current software platform for phones, tablets and its wider connected-device ecosystem.

HyperOS followed the MIUI era while giving Xiaomi a broader framework for its Human × Car × Home strategy. Rather than functioning only as a smartphone interface, Xiaomi positions HyperOS as a platform intended to coordinate compatible personal devices, smart-home products and vehicles.

HyperOS also increasingly integrates AI. Xiaomi's recent software development includes MiMo-powered assistant capabilities and deeper cross-device functionality.

Feature availability is not universal. Supported functions can vary by model, software version and region, so HyperOS should not be interpreted as a guarantee that every Xiaomi device supports every cross-device feature.

Internet Services

Xiaomi generates digital revenue through internet services associated with its devices and user base.

These services include advertising, gaming and other value-added digital activities.

The business plays a different role from hardware. Xiaomi can earn internet-services revenue without requiring the customer to purchase another physical device, creating a recurring monetization layer around its installed user base.

Electric Vehicles

Electric vehicles have become one of Xiaomi's most important new businesses.

The SU7 marked Xiaomi's entry into production automobiles in 2024. Xiaomi later expanded beyond the original SU7 family, with its Q2 2026 reporting covering both SU7 and YU7 vehicles and further vehicle development continuing through 2026.

Xiaomi delivered 104,199 vehicles in Q2 2026, up 28.2% year over year, while Smart EV revenue reached RMB23.9 billion.

The company's automotive strategy is closely connected to its wider ecosystem. Xiaomi entered cars with an existing base of smartphones, user accounts, connected-home products and software expertise.

That creates opportunities for integration, but it also exposes Xiaomi to automotive risks—including manufacturing quality, safety, regulatory compliance, after-sales service and much longer product cycles than consumer electronics.

Artificial Intelligence

AI increasingly operates across Xiaomi's different businesses rather than as one independent product.

Xiaomi develops the MiMo family of large language models and integrates AI into software assistants, connected devices and other product experiences.

Its AI investments also extend into embodied intelligence and robotics research.

The business significance lies in Xiaomi's ability to combine AI with a large installed hardware base. Instead of distributing AI only through a standalone application, Xiaomi can potentially integrate it across phones, homes, vehicles and other connected products.

Semiconductors and Core Technology

Xiaomi has increased investment in internally developed chips as part of its effort to strengthen control over key technologies.

In August 2026, Reuters reported the launch of Xiaomi's XRING O3 smartphone processor, following its earlier XRING O1 chip. Xiaomi is also developing additional processors for AI and automotive applications in partnership with TSMC for manufacturing.

This does not make Xiaomi a semiconductor manufacturer in the same sense as TSMC. Xiaomi designs the processors while relying on external foundries for fabrication.

The strategic value is greater control over device capabilities, AI processing and supply-chain bargaining power.

Customers and Markets

Xiaomi is primarily a consumer-focused technology company, although different parts of the business also interact with advertisers, developers, suppliers and other commercial partners.

Its main customer groups include:

• smartphone buyers across entry-level, mid-range and premium segments;

• users of tablets, wearables and audio products;

• households purchasing smart-home products and appliances;

• digital users interacting with Xiaomi's internet services;

• vehicle buyers in Xiaomi's automotive markets.

Geographically, Xiaomi's consumer electronics business is global. The company says its products are present in more than 100 countries and regions.

Its market position varies significantly by country.

Globally, Xiaomi ranked third in smartphone shipments in Q2 2026. In individual markets, however, its position can differ depending on local pricing, distribution, competition and product availability. Omdia, for example, ranked Xiaomi fourth in India during Q2 2026, illustrating how global rank does not automatically translate into the same position in every major market.

The EV business is less geographically diversified than Xiaomi's electronics operations. As of August 2026, Xiaomi's vehicle business remained centered on China, while the company was preparing for expansion into European EV markets in 2027.

This difference matters when evaluating Xiaomi as a global company: its smartphone and AIoT operations already have wide international reach, while automobiles are still at an earlier stage of geographic expansion.

Competitors

Xiaomi does not have one direct competitor across every business. Its competitive set changes by segment.

H3: Smartphone Competitors

Globally, Xiaomi competes most directly with:

• Samsung

• Apple

• OPPO

• vivo

Omdia ranked those companies alongside Xiaomi in the global top five for Q2 2026. Samsung held the largest global shipment share, followed by Apple, Xiaomi, OPPO and vivo.

Huawei is also an important competitor, particularly in China and in premium devices. IDC data reported by Reuters showed Huawei leading China's smartphone market in Q2 2026, while Xiaomi's shipments in the country declined during the quarter.

Smart Device and Ecosystem Competitors

Xiaomi's broader ecosystem puts it into competition with technology groups that combine devices, software and connected services.

Samsung, Apple and Huawei are particularly relevant because they also compete across multiple hardware and software categories rather than only selling smartphones.

The competitive challenge is not simply whether one Xiaomi product is better than one rival product. Ecosystem competition also depends on software support, interoperability, installed user base and the number of useful devices available within each platform.

Electric Vehicle Competitors

Xiaomi entered one of the world's most competitive EV markets.

In China, its competitive environment includes companies such as:

• BYD

• Tesla

• Geely

• Xpeng

• Li Auto

• other fast-growing domestic automakers

Reuters has described BYD, Xiaomi, Xpeng and Li Auto among the companies increasing competitive pressure on Tesla in China.

Automotive competition is especially demanding because companies must compete not only on software and technology but also on price, production capacity, safety, service networks and long-term reliability.

AI and Semiconductor Competition

As Xiaomi develops AI models and internal processors, it increasingly competes for technology capabilities with companies such as Apple, Samsung and Huawei.

Reuters described Xiaomi's in-house chip strategy as putting it alongside Apple and Samsung in seeking greater control over processor design and product differentiation.

Unlike a dedicated chipmaker, however, Xiaomi's semiconductor work primarily supports its own broader hardware and ecosystem strategy.

Company History

Xiaomi's history can be summarized through a series of strategic expansions rather than a complete product chronology.

From MIUI to Smartphones

Xiaomi was founded in 2010, and software played an important role before the company's first phone arrived.

MIUI gave Xiaomi an early relationship with technology enthusiasts and established software as part of the brand's identity.

The first Xiaomi smartphone followed in 2011, giving the company the hardware platform that would eventually drive its international expansion.

Expansion Into AIoT

As the smartphone business grew, Xiaomi expanded into connected hardware including wearables, televisions, routers, smart-home products and appliances.

This period changed the nature of Xiaomi's business. A smartphone was no longer simply a product—it became an entry point into a wider network of devices.

Becoming a Public Company

Xiaomi listed on the Main Board of the Hong Kong Stock Exchange in July 2018.

The public listing came after Xiaomi had already developed operations spanning smartphones, IoT hardware and internet services, and it provided the corporate structure of a large publicly traded technology group.

From Consumer Electronics to Smart EVs

Xiaomi announced its intention to enter electric vehicles in 2021.

The SU7 entered the market in 2024, marking one of the largest transformations in Xiaomi's history. The company was no longer only connecting phones and home devices; it had added transportation to its ecosystem.

EV deliveries grew quickly, and by Q2 2026 the business was contributing tens of billions of renminbi in quarterly revenue.

AI and Core Technology Become Strategic Priorities

Xiaomi's more recent development has included heavier investment in AI, semiconductor design, robotics and smart manufacturing.

Its MiMo models, XRING processors and automotive technology investments point to a strategy of controlling more of the underlying technologies used across Xiaomi products.

This is a different stage of development from Xiaomi's early growth model. The company is no longer focused primarily on assembling competitive consumer products from widely available technology; it is increasingly investing in foundational technologies that could differentiate its ecosystem.

Leadership

Lei Jun — Founder, Chairman and CEO

Lei Jun remains Xiaomi's founder, chairman and CEO and continues to play a central role in the company's direction.

His continued leadership is particularly significant because Xiaomi is simultaneously managing businesses with very different operational requirements: smartphones, appliances, software, AI and automobiles.

Xiaomi's governance structure combines the chairman and CEO roles under Lei Jun. The company has stated that it believes this structure supports consistent leadership and more efficient strategic decision-making.

Lin Bin — Co-Founder and Vice Chairman

Lin Bin is Xiaomi's co-founder and vice chairman.

He served as Xiaomi's president until 2019 before moving into the vice-chairman role and remains an executive director.

Lu Weibing — Partner and President

Lu Weibing is Xiaomi's partner and president and also leads the Smartphone Department.

He joined Xiaomi in 2019 and has held responsibilities involving the Redmi brand, China sales support and international business. His current role makes him particularly important to Xiaomi's established smartphone operations while Lei Jun oversees the wider group.

Other Senior Leadership

Xiaomi's senior leadership also includes executives responsible for international business, China operations, marketing, procurement and electric vehicles.

Among them, Zeng Xuezhong serves as senior vice president and president of the International Business Department, while Hu Zhengnan became Xiaomi vice president and chief technology officer of the Electric Vehicle Department in 2026.

The increasing specialization of senior roles reflects how much broader Xiaomi has become compared with its earlier smartphone-focused phase.

Ownership, Subsidiaries and Corporate Structure

Xiaomi Corporation is a publicly listed company whose shares trade on the Main Board of the Hong Kong Stock Exchange.

Its corporate structure includes subsidiaries and companies consolidated for accounting purposes across mainland China, Hong Kong and other jurisdictions. Xiaomi's investor-relations materials describe the business collectively as Xiaomi Corporation together with its subsidiaries and consolidated entities.

Xiaomi also uses a weighted voting rights structure.

Under the structure disclosed in its 2025 interim report, each Class A share carries 10 votes for most shareholder resolutions, while each Class B share carries one vote. As of June 30, 2025, Lei Jun and Lin Bin were the weighted-voting-rights beneficiaries. Xiaomi reported that Lei Jun held approximately 61.1% of the voting rights for resolutions other than reserved matters, while Lin Bin held approximately 6.7%.

This means economic ownership and voting control are not identical. The structure gives Xiaomi's founder and co-founder substantial influence over corporate decisions even without holding a majority of the company's total economic interest.

Xiaomi's group structure also contains dedicated operating entities.

For example, its 2025 interim report identified Xiaomi EV, Inc. as a direct wholly owned subsidiary, while Xiaomi Communications, Xiaomi Mobile Software and other entities support different parts of the broader group.

Some mainland China operations are also consolidated through contractual arrangements because foreign-investment restrictions apply to certain business areas. Xiaomi's reporting explains that these arrangements allow it to control relevant entities and consolidate their financial results even where direct equity ownership is restricted.

Xiaomi Strategy

H3: Build the Human × Car × Home Ecosystem

Xiaomi's central corporate strategy is Human × Car × Home.

The strategy attempts to connect three environments that were traditionally separate technology markets:

• personal devices;

• the smart home;

• the vehicle.

HyperOS provides a common software framework, while AI increasingly adds assistance and automation across those environments.

The strategic goal is not merely product diversification. Xiaomi is attempting to increase the value of each individual product by making it part of a larger system.

Move Further Into Premium Products

Xiaomi built much of its early reputation around value-for-money smartphones, but relying heavily on lower-priced devices creates margin pressure and greater exposure to component-cost increases.

The company has therefore continued pushing into more premium smartphone and consumer-electronics categories.

That strategy became particularly relevant during 2026, when rising memory and component costs hurt lower-priced smartphone segments. Omdia reported that Xiaomi was especially exposed because more than half of its smartphone shipments were priced below US$200.

Moving upmarket can improve average selling prices and margins, but it also places Xiaomi in more direct competition with Apple, Samsung and other established premium brands.

Turn EVs Into a Major Growth Pillar

Electric vehicles have moved from experimental initiative to major growth business.

In Q2 2026, EV, AI and other new initiatives represented roughly 23% of Xiaomi's revenue, according to Reuters.

Xiaomi's next automotive challenge is therefore larger than proving it can produce a successful first car.

It must expand production, broaden the model range, build after-sales capabilities and eventually compete internationally while maintaining vehicle quality and safety.

The company has said it plans to enter European EV markets in 2027.

Invest in AI and Foundational Technologies

Xiaomi has increasingly emphasized what it calls foundational or core technologies.

Its investment areas include:

• AI models;

• operating systems;

• semiconductors;

• autonomous-driving technology;

• robotics;

• smart manufacturing.

The XRING processor program is one example. Greater internal control over chips could reduce reliance on external suppliers for certain capabilities and allow Xiaomi to optimize hardware more closely around its own software and AI.

Xiaomi still depends on external manufacturing partners such as TSMC for advanced chip fabrication, so this strategy represents greater design control rather than complete semiconductor independence.

Expand the Ecosystem Internationally

Xiaomi already has a broad international smartphone and consumer-electronics footprint.

The next challenge is extending more of the ecosystem beyond China.

Not every Xiaomi appliance, AI function, HyperOS capability or vehicle is available globally. International expansion therefore requires more than selling phones in additional markets—it means building distribution, software localization, after-sales support and regulatory readiness across more product categories.

Key Challenges and Risks

Smartphone Margin and Component-Cost Pressure

Xiaomi's scale in value and mid-range smartphones creates exposure to component-price changes.

In Q2 2026, rising memory and other component costs pressured Xiaomi's smartphone business. Reuters reported that adjusted net profit fell 42.6% year over year and smartphone revenue declined as the company dealt with higher costs and weaker shipments.

This risk is particularly important because Xiaomi historically relied heavily on competitively priced devices.

If component costs rise faster than Xiaomi can increase retail prices, margins can be squeezed. If Xiaomi raises prices too aggressively, price-sensitive customers may postpone upgrades or switch brands.

Intense Competition Across Multiple Industries

Diversification reduces dependence on one market but creates another problem: Xiaomi now faces strong competitors almost everywhere.

In smartphones, it competes with Samsung, Apple, Huawei, OPPO and vivo.

In EVs, it competes with BYD, Tesla, Geely, Xpeng, Li Auto and other automakers.

In AI, software and semiconductors, it competes for talent and technology against some of the world's largest technology companies.

This means Xiaomi must fund several expensive competitive battles simultaneously.

EV Execution and Safety Risk

Automobiles introduce operational and safety risks that are much higher than those associated with most consumer electronics.

Manufacturing defects, safety incidents and regulatory changes can result in expensive recalls and reputational damage.

In August 2026, Xiaomi was among several automakers involved in a large Chinese recall related to emergency door-release concerns. Reuters reported that about 390,000 Xiaomi vehicles were affected.

This illustrates why automotive expansion cannot be judged only by vehicle deliveries. Safety engineering, regulatory compliance and long-term service quality are equally important.

Heavy Investment in New Businesses

New initiatives require large amounts of capital before they necessarily become profitable.

Reuters reported that Xiaomi's Smart EV, AI and other new initiatives segment posted a RMB2.6 billion loss in Q2 2026 despite rapid revenue growth.

Continued investment in vehicles, AI, chips and robotics could create significant long-term advantages, but it also raises execution risk if those businesses fail to generate sufficient returns.

Supply-Chain Dependence

Xiaomi remains dependent on a complex international supply chain.

Even when it designs technology internally, manufacturing may rely on external partners. Its advanced XRING processors, for example, are manufactured by TSMC.

Memory, processors, displays, batteries and other critical components can all affect product cost, availability and margins.

Supply constraints or geopolitical restrictions could therefore influence several Xiaomi businesses at once.

Regional Availability and Regulatory Complexity

Xiaomi operates across more than 100 countries and regions, but regulations differ significantly across smartphones, internet services, data protection, AI and automobiles.

The EV business introduces additional requirements involving vehicle certification, safety rules, manufacturing standards and after-sales obligations.

A feature or product successful in China cannot automatically be launched internationally without modification.

Key Facts About Xiaomi

Xiaomi Is Still the World's Third-Largest Smartphone Vendor

Omdia ranked Xiaomi third globally in smartphone shipments in Q2 2026 with 31.2 million units, behind Samsung and Apple.

The ranking matters because smartphones remain the foundation on which Xiaomi built its larger ecosystem.

Xiaomi Has More Than One Billion Connected AIoT Devices

Xiaomi reported approximately 1.1608 billion IoT devices connected to its AIoT platform as of June 2026, excluding smartphones and tablets.

This makes the connected-device platform one of Xiaomi's defining assets.

Millions of Users Own Multiple Xiaomi Devices

Around 24.6 million users had five or more devices connected to Xiaomi's AIoT platform.

This is more informative than raw connected-device volume because it indicates that a substantial group of users is adopting Xiaomi as an ecosystem rather than purchasing a single product.

Xiaomi's EV Business Is Already Material to Group Revenue

Smart EV, AI and other new initiatives generated RMB24.9 billion in Q2 2026.

That represented roughly 23% of group revenue, demonstrating how quickly Xiaomi's revenue mix has shifted beyond its traditional phone-and-AIoT operations.

Xiaomi Combines Phones, Homes and Cars Under One Strategy

Few major consumer technology companies operate directly across smartphones, household appliances and automobile manufacturing.

Xiaomi's Human × Car × Home strategy attempts to make those businesses function as parts of one connected system rather than unrelated divisions.

HyperOS Is More Than a Smartphone Interface

HyperOS reflects Xiaomi's shift away from thinking about software only at the device level.

Its strategic purpose is to provide a shared software framework across multiple categories of Xiaomi hardware.

Xiaomi Is Investing in Its Own Chips

The XRING processor program marks a move toward greater control of foundational technology.

Xiaomi still relies on specialist manufacturers such as TSMC for fabrication, but designing more chips internally could strengthen product differentiation and supply-chain leverage.

Xiaomi Has a Founder-Controlled Voting Structure

Although Xiaomi is publicly traded, its weighted voting rights give Lei Jun and Lin Bin significant voting influence.

This structure preserves founder control over long-term strategic decisions while separating voting power from ordinary economic ownership.

Xiaomi's Business Has Become Much More R&D Intensive

As Xiaomi expands into EVs, AI, chips and robotics, research and development has become increasingly important to its competitive position.

The company no longer relies only on product design, supply-chain execution and aggressive pricing; it is investing more heavily in technologies it hopes can become proprietary advantages.

Frequently Asked Questions

What is Xiaomi?

Xiaomi is a Chinese consumer electronics and smart manufacturing company. Its businesses include smartphones, AIoT products, household appliances, software, internet services, electric vehicles and artificial intelligence.

Is Xiaomi a Chinese company?

Xiaomi was founded in Beijing in 2010 and its main headquarters remains in Beijing, China.

Who founded Xiaomi?

Lei Jun is Xiaomi's founder, chairman and CEO. Lin Bin is a co-founder and currently serves as vice chairman.

When was Xiaomi founded?

Xiaomi was founded in April 2010. MIUI was introduced later that year, and Xiaomi launched its first smartphone in 2011.

Is Xiaomi publicly traded?

Yes. Xiaomi is listed on the Main Board of the Hong Kong Stock Exchange under stock code 1810 for its HKD counter.

How does Xiaomi make money?

Xiaomi earns revenue primarily from smartphones, IoT and lifestyle products, internet services, electric vehicles and other newer technology businesses.

In Q2 2026, Xiaomi reported total revenue of RMB108.9 billion.

Is Xiaomi only a smartphone company?

No. Smartphones remain central to Xiaomi, but the company also sells tablets, wearables, connected-home devices, appliances and vehicles, while operating software, internet-services and AI businesses.

What is Xiaomi's Human × Car × Home strategy?

Human × Car × Home is Xiaomi's ecosystem strategy linking personal devices, smart-home products and vehicles.

HyperOS and AI provide important software and intelligence layers intended to connect those environments.

What is Xiaomi HyperOS?

Xiaomi HyperOS is Xiaomi's current operating-system platform for its wider connected-device ecosystem.

It is designed to support Xiaomi's strategy across personal devices, home technology and vehicles rather than operating only as a smartphone interface.

Does Xiaomi make cars?

Yes. Xiaomi entered production electric vehicles with the SU7 in 2024 and has since expanded its vehicle portfolio.

The company delivered 104,199 vehicles in Q2 2026.

Who are Xiaomi's main competitors?

Xiaomi's competitors vary by business.

In smartphones, major competitors include Samsung, Apple, OPPO, vivo and Huawei. In electric vehicles, Xiaomi competes with companies including BYD, Tesla, Geely, Xpeng and Li Auto.

How many devices are connected to Xiaomi's ecosystem?

Xiaomi reported approximately 1.1608 billion connected IoT devices on its AIoT platform as of June 2026, excluding smartphones and tablets.

Around 24.6 million users had five or more devices connected to the platform.

Sources and Further Reading

Xiaomi Investor Relations

Xiaomi Management Team

Xiaomi Q2 2026 Results Presentation

Omdia Global Smartphone Market Q2 2026

Reuters: Xiaomi Q2 2026 Financial Results

Reuters: Xiaomi XRING O3 Chip Strategy

Xiaomi Corporate Governance