Who founded Xiaomi: from startup to global tech empire

When it comes to revolutionary brands in the smartphone world, Xiaomi has consistently been at the forefront. A company that started out as a humble start-up in 2010 is now competing with giants like Apple and Samsung to offer innovative devices at affordable prices. But who is behind this phenomenal success? Who are the people who turned Xiaomi from a “Chinese outsider” into a global leader with a turnover of tens of billions of dollars?

In this article, we will delve deeply into Xiaomi’s history, analyze the biographies of key founders, analyze their contributions to the company, and uncover little-known facts about how fateful decisions were made. You will learn not only the names, but also the motivations of the people who changed the rules of the electronics market, and why their approach to business became a role model for many startups around the world.

Lei Jun: “Chinese Steve Jobs” and Xiaomi’s chief architect

The central figure in Xiaomi’s history is certainly Lei Jun, an entrepreneur, investor and visionary often compared to Steve Jobs, who was born in 1969 in Hubei Province, Lei has been interested in technology since his early years. In 1992, he graduated from Wuhan University with a degree in computer science, which was the start of his career in computer science. IT.

Before Xiaomi was created, Lei Jun already had an impressive track record:

• 💼 1992–1998: Worked as an engineer at Kingsoft (China’s equivalent of Microsoft), where he later became CEO.
• 📈 1998–2007: Turned Kingsoft into a publicly traded company on the Hong Kong Stock Exchange, increasing its capitalization to $1 billion.
• 💰 2007–2010: Invested in venture capital investments in more than 20 startups, including UCWeb (browser) and Vancl (e-commerce).

It was this experience that helped Lei Jun articulate Xiaomi’s key idea: to create high-quality smartphones at a price that is affordable for the masses. Onlater himself admitted in an interview that he was inspired by the phrase, “Making cool products that are available to everyone,” a philosophy that has become the foundation for the company’s entire strategy.

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Lei Jun is known for his “banana principle” of management: he requires employees to work as if “a monkey with a knife is behind him” – that is, as quickly and efficiently as possible, but without loss of quality.

Previous articleThe Dream Team: Xiaomi’s 7 Co-Founders and Their Roles

Although Lei Jun is Xiaomi’s most famous face, the company was founded by a team of 7 professionals, each of whom made a unique contribution.

Especially worth highlighting Lina Binh - he is called the father. MIUI". It was under his leadership that the company shell was developed. MIUI, Lin Bin joined the company from Google China, where he was responsible for developing Android for the Chinese market, and his experience allowed him to create a firmware that combined the best features of iOS (simplicity) and Android (flexibility).

Interesting fact: all the co-founders were over 40 when Xiaomi was founded, which disproves the myth that revolutionary startups are created only by young entrepreneurs. Howlater told Lei Jun, "Experience is more important than age. We knew how to avoid the mistakes that beginners make."

2010: How Xiaomi was born and why they chose smartphones

Xiaomi’s official founding date is April 6, 2010, but the idea of the company matured much earlier, and Lei Jun and his team analyzed the smartphone market and came to several key conclusions:

• 📱 Apple and Samsung Dominance: These Brands Dictated the Rules, But Their Products Were Expensive.
• 🇨🇳 China: Fast-growing but undervalued by global players.
• 🤖 Android: an open platform that allowed customizing the user experience.
• 💲 Pricing policy: the ability to sell devices at almost cost, earning on services.

The first product of the company was not hardware, but software — MIUI, It was released in August 2010, and it was a customized firmware based on Android 2.2 Froyo that offered a customized firmware:

• 🎨 Unique design with round icons (inspired by iOS)
• ⚡ Optimization for weak devices (worked even on phones with 512 MB of RAM)
• 🌍 Weekly updates to user reviews

MIUI It was a viral hit, with more than 10 million downloads in its first year, proving that Xiaomi had an audience ready to support the brand, and only after that success did the team decide to release its first smartphone, the Xiaomi Mi 1, which was released in August 2011.

Xiaomi Mi 1: Revolution or Adventure?

The Xiaomi Mi 1, the debut smartphone, was a real challenge for the industry, and its presentation on August 16, 2011, attracted a record-breaking online audience in China, with over 300,000 viewers.

• 🔥 Processor: Qualcomm Snapdragon S3 (1.5 GHz - top at the time
• 🖥️ Screen: 4" TFT (854×480) — modest by today’s standards, but great for 2011 year-end
• 📷 Camera: 8 MP with autofocus and LED-flash
• 🔋 Battery: 1930 mAh (removable!)
• 💽 Memory: 4GB built-in + microSD-slot

But the main feature was not the iron case or characteristics, but the price: 1999 yuan (~$For comparison, the iPhone 4 in China was worth about $800, and Samsung flagships — $600+. Xiaomi offered a device with similar capabilities in 2-2.5 times cheaper, which caused shock to competitors and excitement among buyers.

However, the launch was not without problems:

⚠️ The first 300,000 Mi 1 smartphones sold out in 34 hours, but due to the huge demand, Xiaomi’s website fell several times.

The success of the Mi 1 proved the strategy to sell high-quality devices at a minimal margin, earning money on the ecosystem, an approach that was later dubbed the “Xiaomi model” and was tried to copy by many competitors (including OnePlus and Realme).

The Three Iron Principles and How It Changed the Market

Xiaomi’s success was no accident, and Lei Jun formulated the “Three Iron Principles” that have become the foundation of the company’s business model:

1. The move away from traditional retailers cut costs by 30 to 40 percent, while Xiaomi sold devices through its mi.com website and partner platforms like Tmall, and it also gave direct access to customer data.
2. The margin on smartphones was only 5-10% (versus 50-100% for competitors), and the profit was offset by the sale of accessories (a markup of 30-50%) and services (a markup of up to 70%).
3. Xiaomi’s fanatical user loyalty has been actively engaging users in product development through forums and beta testing, and the company has referred to its customers not as “customers,” but as “Mi Fans.”

This model had several implications:

• 📉 Competitors were forced to reduce prices (for example, Meizu and Huawei launched budget lines).
• 🌍 Global expansion: by 2014, Xiaomi entered the markets of India, Brazil, Indonesia.
• 📦 Diversification: in addition to smartphones, the company released Mi Box (2014), Mi Band (2014), robot vacuum cleaner Mi Robot Vacuum (2016).

Critics called it “unsustainable” and predicted a collapse, but the numbers said otherwise: by 2014, Xiaomi had become the world’s most expensive startup with a rating of the most expensive in the world. $46 billion, even ahead of Uber.

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Xiaomi has proven that you can compete with Apple and Samsung without having your own factories or retail chains, and that the key is to have the right pricing strategy and community engagement.

Scandals and Challenges: The Dark Side of Xiaomi’s Success

Despite the breakneck growth, Xiaomi faced serious problems that could have ruined the company.

⚠️ Note: In 2014, Xiaomi was accused of spying on users.A study by F-Secure found that Xiaomi smartphones sent data (including call history and phone history) SMS) Lei Jun was forced to publicly apologize and issue a patch that disabled the feature, the incident was a lesson about the importance of transparency in data processing.

Other key challenges:

• 🚫 Patent wars: In 2014 Ericsson sues Xiaomi for infringing technology patents 3G/4G. The company had to pay compensation and enter into licensing agreements.
• 📉 Slowing growth: Xiaomi sales fell 36% for the first time in 2016 due to saturation of the Chinese market and competition with Huawei and Oppo.
• 🌐 Failures in Western markets: Attempts to enter the US and Europe in 2015-2017 failed due to patent restrictions and consumer skepticism towards Chinese brands".

However, Xiaomi has managed to adapt:

• 🛠️ It has moved to India (today it is the company’s largest market).
• 🤝 Collaboration with Qualcomm and Microsoft to resolve patent issues.
• 📱 I've issued a ruler. POCO (2018) to fight Realme and Redmi in the budget segment.

Cahlater told Lei Jun, "Crisis is an opportunity. If it weren't for the fall in 2016, we wouldn't be the company we are today."

Xiaomi today: from startup to tech giant

For 2026, Xiaomi is:

• 📊 3rd place in the world in smartphone sales (after Samsung and Apple, Counterpoint data).
• 💰 $37 billion in revenue in 2023 (an increase of 14% compared to 2022).
• 🌍 Sales at 100.+ countries, with a focus on Asia, Europe and Latin America.
• 🏭 Own production: plants in India, Indonesia and Brazil.

Key milestones of recent years:

• 🚀 2018: IPO on the Hong Kong Stock Exchange (estimation) $54 billion).
• 🤖 2020: Mi 10 – the first flagship with a 108 MP camera and Snapdragon 865.
• 🏠 2021: Xiaomi Smart Home – ecosystems of 400+ smart-home.
• 🚗 2022: Launch of Xiaomi project EV — electric car, which should be released in 2026-2026.

Today, Xiaomi is not just a smartphone manufacturer, but a technology ecosystem that includes:

• 📱 Smartphones (Xiaomi, Redmi, POCO, Black Shark)
• 💻 Laptops and tablets (Mi Notebook, Mi Pad)
• 🎮 Gaming devices (Black Shark)
• 🏠 Smart home (Mi Home: lamps, vacuum cleaners, air conditioners)
• ⚡ Accessories (Mi Band, Mi Earbuds)

Lei Jun still leads the company, but in 2023 announced the gradual transfer of operational management to a new team. EV and the market entry of electric vehicles.

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Xiaomi has proven that a Chinese company can become a global brand without copying Western models, and their success is based on innovation, speed and a deep understanding of users’ needs.

FAQ: Frequent questions about Xiaomi founders and history