Who is the founder of Xiaomi: the history of the company and its leader Lei Jun

Xiaomi is now more than just a brand, it is an empire, with products in almost every home: from smartphones to smart light bulbs, from robot vacuum cleaners to electric vehicles, it has become a global electronics company. But who is behind this phenomenal success? Xiaomi founder Lei Jun is one of the most prominent figures in Chinese business, whose story has inspired millions of entrepreneurs around the world.

Many people mistakenly think that Xiaomi came into being as a startup of young engineers or as a subsidiary of a giant like Huawei or Alibaba. In fact, it's much more interesting: it was founded 10 years after its creator had already achieved the first billion. Lei Jun was not a newcomer to IT — by the time Xiaomi launched in 2010, he had already gone from a humble programmer to a top manager of one of the largest Chinese companies. His story is about how a second chance can be a triumph.

In this article, we’ll look at not only the founder’s biography, but also the key moments that made Xiaomi what it is today: from a revolutionary business model to controversial decisions, from early failures to global recognition. If you’ve ever wondered why Xiaomi smartphones are so cheap, how the company overtook Samsung in its home market, or what Lei Jun and Steve Jobs have in common, the answers are below.

Lei Jun: From programmer to billionaire

Lei Jun was born on December 6, 1969, in the small town of Xiantao, Hubei Province, and his family was not wealthy: his father was a teacher, his mother was a housewife. As a child, Lei was fond of technology, but his real passion for computers only manifested itself at university. He enrolled in Wuhan University (one of the top universities in China) in the computer science department, where he began his career in IT.

In 1992, right after graduation, Lei joined Kingsoft, a Chinese software company that started as an engineer, but within a few years he became a key manager, and by 1998, Lei Jun had taken over Kingsoft and in 2007 he had taken it to Kingsoft. IPO, youngest CEO Chinese IT-At that time, his condition was being assessed in $1.2 billion by China's standards in the early 2000s, it was an astronomical success.

But in 2007, Lei suddenly left his position as Kingsoft CEO, the official version of which was a desire to invest and new projects, spoke informally about the conflict with shareholders and frustration with corporate culture, and somehow the move was a turning point: Lei Jun began investing in startups, including future Xiaomi rival UCWeb.

⚠️ Attention: Many people think that Lei Jun left Kingsoft because of the failure of Kingsoft Antivirus. In fact, the antivirus was a success, but Lei wanted to create something fundamentally new - an ecosystem of devices, not just software.

• 🎓 1992 – Beginning of his career at Kingsoft after graduating from Wuhan University.
• 💼 1998 - appointment to office CEO Kingsoft, aged 29.
• 💰 2007 - Kingsoft releases on IPO Lei Jun resigns as head of the company.
• 🚀 2010 – Xiaomi was founded with a personal investment in the $30 million.

How Xiaomi came to be: from the idea to the first smartphone

Xiaomi's official founding date is April 6, 2010, but it took almost a year to get ready, and Lei Jun assembled a team of 7 co-founders, including:

• 📱 Lin Bin, former director of Google China (responsible for software development).
• 🔧 Zhang Guangjie – hardware expert at Motorola.
• 💡 Li Wangqiang – Industrial Design Specialist (Worked at Microsoft).

The initial idea was simple: to create a smartphone with top-end specs at a price 2 times lower than the competition.

1. Direct sales via the Internet (without intermediaries and retail margins).
2. Minimalist design with a focus on performance rather than premium materials.
3. Weekly updates to MIUI (Android’s branded shell) to keep users on track.

The first smartphone Xiaomi Mi 1 was released in August 2011 and sold out in 2 minutes - only 300,000 devices. Price was ¥1999 (~$300), which was 2 times cheaper than flagships Samsung or HTC with similar characteristics. This success was the beginning of the global expansion of Xiaomi.

Xiaomi’s philosophy: Why are smartphones so cheap?

One of the most common questions about Xiaomi is, “How do they manage to sell flagship smartphones for half the price?” The answer lies in a unique business model that Lei Jun called “three ironclad principles”:

1. Low margin – no more than 5% on hardware (competitors – 30-50%).
2. Direct sales – 90% of devices are sold through the official website and online partner sites (Amazon, AliExpress).
3. Services revenue – The main revenue comes not from hardware sales, but from MIUI, cloud services, advertising and the smart device ecosystem.

For example, the Xiaomi Redmi Note 10 Pro (2021) smartphone with a Snapdragon 732G processor and a 120Hz AMOLED screen cost ~$250, while similar models of the Samsung Galaxy A52 or Oppo Reno5 cost $400-500. The difference in price was offset by the lack of offline stores, minimal advertising and the rejection of premium materials (for example, a glass back panel instead of metal).

Lei Jun has said many times, "We don't sell iron, we sell expertise. Our goal is to make premium technology available to everyone." №1 in China in smartphone sales, overtaking Apple and Samsung.

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If you see a Xiaomi smartphone with a price tag like Samsung’s flagship, it’s likely a fake. Official devices rarely cost more than $600, even in the premium Mi Mix or Black Shark lineup.

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

Despite its success, Xiaomi and its founder have been the center of scandals, with some of the most notorious of them:

• 🕵️ Espionage Charges (2014) – Indian authorities claim Xiaomi smartphones secretly send user data to China, even temporarily banned in India, later revealed that the problem was in the Mi Cloud cloud service, and it was quickly fixed.
• 📉 Failure in the US market (2018) – Xiaomi tried to enter the US market but faced sanctions from the FBI over its ties to the Chinese government.
• 🔋 Battery problems (2016) – several Redmi models exploded while charging. Xiaomi withdrew the batch and replaced the batteries, but reputational damage was done.

Lei Jun has commented on the incidents, for example, on espionage allegations, he said, "We never sell user data. Our business model is based on trust, not on selling information." However, some countries (such as the United States and Australia) still view Xiaomi with suspicion.

⚠️ Warning: If you buy a Xiaomi smartphone to work with sensitive data, disable Mi Cloud and use alternative cloud services.Despite the company's claims, the risks of data leakage remain.

Xiaomi today: from smartphones to electric cars

By 2026, Xiaomi is not just about smartphones, it has become an ecosystem of 400+ devices, including:

• 📺 Televisions (Mi series) TV, Redmi TV).
• 🏠 Smart home (Mi Home: light bulbs, sockets, sensors).
• 🎮 Gaming devices (Black Shark line).
• 🚗 Electric cars (project Xiaomi) EV, launch in 2026).

In 2021, Lei Jun announced the entry into the automotive industry with an investment of $ 10 billion. the First electric car Xiaomi SU7 was introduced in March 2026 and immediately caused a stir: in the first 24 hours, 50,000 pre-orders were collected. The car is equipped with a level 3 autopilot, an 800 km battery and a price of $ 30,000 - which is 2 times cheaper than the Tesla Model 3 with similar characteristics.

According to the data 2026 Xiaomi’s market capitalization exceeds one year $50 Billion, and Lei Jun is in the Top-100 The richest people in the world (Forbes) $18,5 And yet, it still remains in place. CEO This is a rare case for a billionaire of this level.

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Xiaomi is the only company that has successfully expanded from smartphones to electric vehicles, while maintaining low prices and high quality.

Lei Jun vs Steve Jobs: Why Xiaomi founder is called “Chinese Jobs”

Lei Jun is often compared to Steve Jobs, and not just because of his black sweater and jeans, but because of the key similarities and differences:

Lei Jun himself doesn't like the comparison. In an interview with Bloomberg, he said, "I'm not Jobs. I'm just a guy from Hubei who wants to do good things at an affordable price." Yet his presentation style (minimalist slides, emphasis on "tech magic") and personality cult around him really resemble Apple's Jobs days.

One key difference is the attitude towards openness, and while Jobs kept the development secret, Lei Jun, by contrast, is actively engaging with fans: holding weekly online meetings, answering questions in person on Weibo (China’s Twitter equivalent), and even testing prototypes with users.

What Xiaomi is looking forward to: forecasts and risks

In 2026, Xiaomi faces 3 key challenges:

1. Competition in the smartphone market – Samsung, Apple and Chinese brands (Oppo, Vivo, Huawei) are actively reducing prices.
2. Xiaomi is on the blacklist of companies associated with the Chinese army.
3. The transition to electric cars – Xiaomi EV project requires a huge investment and can be unprofitable.

However, the company also has strengths:

• 🌍 Global presence: Xiaomi leads in India, Europe and Latin America.
• 🤖 AI and robotics – development of CyberDog (robot dog) and Mi AI Speaker.
• 💰 Financial cushion — $10 billion in cash in accounts (according to 2023 data).

Lei Jun says the priority for the next 5 years is:

“Making Xiaomi the number one smart device in the world, we want to have at least one of our devices in every home, whether it’s a smartphone, TV or electric car.”

FAQ: answers to frequent questions about the founder of Xiaomi