When it comes to modern Chinese electronics, the name Xiaomi is heard by everyone, but many users mistakenly assume that Xiaomi is a particular person's name, like Steve Jobs or Elon Musk. In fact, the situation is more interesting: Xiaomi is the name of the company, and the founder is called Lei Jun, who is the founder of one of the world's largest technology corporations, which started as a small startup in Beijing.
Understanding who is behind the brand helps to better understand the philosophy of Mi and Redmi products. Lei Jun has shaped a unique business model that has allowed the company to overtake the industry giants in record time. Lei Jun founded Xiaomi in 2010, when he was 40 years old, an atypical age for a startup in Silicon Valley, but was a key factor in its success thanks to accumulated experience.
In this article, we will explore in detail the creator’s biography, his path to wealth, and the principles on which the empire of smartphones, smart homes, and electric cars is built. You will learn why the founder is called “China’s Steve Jobs” and how his strategies affect the price of the gadgets you buy today.
Biography of Lei Jun: The Way from a Student to a Billionaire
Lei Jun was born in 1969 in Xiantao, Hubei Province, China, and his journey to the top of the technology olympus began long before Xiaomi was founded. Back at the University of Wuhan, he proved himself a talented programmer, writing programs that sold tens of thousands of copies. This allowed him to accumulate start-up capital and reputation in the IT-community.
In 1992, he joined Kingsoft, where he went from a rank-and-file employee to CEO, and under his leadership, Kingsoft became one of the leaders of the Chinese software market, competing successfully with Microsoft, and this experience in managing and developing products became the foundation for future achievements.
But Lei Jun became famous after founding Xiaomi, whose management style combines discipline and deep understanding of user needs, and he personally participates in product presentations, often wearing a simple black T-shirt and jeans, which became his signature style.
Lei Jun’s success is borne out by the numbers: he has been listed as the richest person in China and the world by Forbes, and his fortune is based on Xiaomi stocks and other investments, making him one of the most influential investors in Asia.
⚠️ Warning: Don’t confuse Lei Jun with other Chinese businessmen, such as Jack Ma (founder of Alibaba) or Richard Liu (founder of JD.com), each with a different niche: Lei Jun specializes in smart hardware and the IoT ecosystem.
History of the creation of Xiaomi
Xiaomi Technology was founded on April 6, 2010, and was already being taken over by giants like Nokia, Samsung and Apple, with Lei Jun setting an ambitious goal: to create a smartphone that was “the flagship for everyone” by offering top-end specs at a price that was affordable to a wide audience.
The first smartphone, Xiaomi Mi 1, was released in 2011, and it was based on the MIUI operating system (at that time customizing Android), which was actively developed by the community, and the strategy of selling through the Internet allowed to exclude markups of retailers and distributors, which was a key factor in low prices.
By 2014, Xiaomi had become the world’s third-largest smartphone maker, surpassing Lenovo and Huawei, and its success was based on three pillars: high performance, low price, and active user engagement.
Xiaomi is not just a phone maker today; it is a conglomerate investing in hundreds of startups that make everything from toothbrushes to electric scooters to cars, and the Mijia ecosystem integrates all of these devices into a single smart home network.
- 📱 Smartphones: flagship Mi series (now Xiaomi), sub-brand Redmi and gaming Black Shark.
- 🏠 Smart Home: Thousands of Mijia-branded devices and the Youpin ecosystem.
- 🚗 Transport: Electric cars of the series SUX and electric transport for the city.
- 📺 Multimedia: TVs, projectors and audio systems with support AI.
The secret of Xiaomi's name
The Iron Triangle Philosophy and Business Model
At the heart of Lei Jun’s success is a concept he calls the “Iron Triangle,” three elements: Hardware, Internet Services, and New Retail, which combines these components to keep the company marginal at low device prices.
Lei Jun has repeatedly stated that Xiaomi’s net hardware revenue should not exceed 5%, and that the company’s main revenue comes from selling Internet services, advertising in the shell of MIUI (HyperOS), subscriptions and sales of accessories, making Xiaomi devices incredibly attractive to the end user.
An important aspect of the philosophy is the concept of the “Fandom economy”; the company actively engages users in software development. Xiaomi engineers read forums, and the most popular user requests are implemented in weekly firmware updates, which creates a loyal community that feels involved in the creation of the product.
The New Retail strategy integrates online and offline sales, with Xiaomi Home (Mi Store) stores looking more like a technology museum where you can touch any gadget, and high traffic offsets the low margin.
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The main secret of Xiaomi’s low price is to limit the profit from iron to 5% and monetize through services and the ecosystem.
Top.-5 Facts about Lei Jun and Xiaomi
The identity of the founder and the history of the company are full of interesting details that are not known to the general public, which help to better understand the scale of the personality behind the Mi logo.
Lei Jun is known for his work ability, and is known in the industry as the “Laomo,” who often works 100 hours a week and demands the same dedication from his employees, even though he has been calling for work-life balance in recent years.
Lei Jun’s investment is also impressive, and through his investment firm Shunwei Capital, he has invested in projects such as iQiyi (China’s Netflix), Wangxia (games), and a host of other tech startups, building a powerful network of partners around Xiaomi.
In 2021, Lei Jun announced his “last great adventure” — the creation of the Xiaomi SU7 electric car.He personally oversees the project, promising to invest $10 billion over 10 years to make Xiaomi a leader in smart mobility.
- 💰 Status: Lei Jun’s fortune fluctuates depending on stock prices, but steadily exceeds $20 billion.
- 🎓 Education: Graduated from Wuhan University, Faculty of Computer Science, and later received honorary degrees from various universities.
- 🏆 In 2013, Time magazine included him in the list of the 100 most influential people in the world.
- 📉 Crisis management: B 2015-2016 Xiaomi has faced a drop in sales over the years, and Lei Jun has personally led the procurement and supply chain department to fix the situation, which he managed to do. 2017 year.
- 🎤 Presentations: Known for its long and detailed presentations that last for the entirety of the 2-3 The hour where he technically explains the benefits of each component.
☑️ Signs of Xiaomi philosophy in the device
Comparing Xiaomi to Competitors: Lei Jun’s Strategy
To understand the uniqueness of Lei Jun’s approach, it’s worth comparing Xiaomi to other giants: Unlike Apple, which relies on a closed ecosystem and high margins, or Samsung, which produces components for everyone (including competitors), Xiaomi is building an open platform.
The table below shows the key differences in the approaches of market leaders:
| Parameter | Xiaomi (Lei Jun) | Apple (Tim Cook) | Samsung (Lee Byung Chol/Lee Jae-young) |
|---|---|---|---|
| Marginality | Low (< 5% per iron) | Very high (> 30%) | Medium/High |
| Ecosystem | Open (Invest & Incubate) | Closed (Walled Garden) | Half-closed |
| Target audience | Mass market and enthusiasts | Premium segment | All segments |
| Key asset | Userbase (IoT) | Brand and Services | Production of components |
Lei Jun’s approach is often called “bamboo”; bamboo grows fast, is flexible, but strong. So is Xiaomi: it adapts quickly to market changes, is not afraid to experiment with new niches (from rice mills to cars), and is willing to sacrifice short-term profits to capture market share.
Unlike Huawei, which has been heavily reliant on its own patents in telecommunications and has been hit by sanctions, Xiaomi has positioned itself as a global internet company, which has long allowed it to avoid tough restrictions, although pressure on the brand has also been mounting in recent years.
⚠️ Note: When buying Xiaomi devices, it is important to distinguish between global and Chinese versions (CN). Lei Jun was initially focused on the domestic market, and only then did the company go global.The Chinese versions may not have some (frequency) to work in Europe or the CIS, and also have trouble with notifications.
The future of Xiaomi: From smartphones to electric cars
Today, Lei Jun is challenging the company with a new, even more challenging challenge, announcing that the smartphone is no longer the main device, giving way to the “Man × Car × Home” scenarios, which means deep integration of all devices into a single network.
The launch of the automotive division was a logical extension of the strategy: the Xiaomi SU7 electric car was presented as a “C-class car with supercar performance.” Lei Jun personally tested prototypes and participated in the design development, seeking to replicate success in the new industry.
The HyperOS operating system (formerly MIUI) has become a link, bringing together phones, tablets, appliances and cars to meet the challenges of the time when users need seamless switching between devices.
Investors and analysts are cautiously optimistic about Lei Jun’s automotive ambitions. The electric car market is oversupplied and the entry bar is high. However, Xiaomi’s experience building efficient supply chains and loyal communities give it an edge over traditional automakers.
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When choosing a Xiaomi smartphone, pay attention to the processor. Lei Jun always insists on using the top-end Qualcomm Snapdragon or MediaTek Dimensity chips in flagships, which guarantees long-term support and high performance.
Conclusion: The Founder's Legacy
The answer to the question, "Who is Xiaomi?" is now full: it's not a person, but a brand created by visionary Lei Jun. His contribution to the industry is hard to overstate. He's democratized technology by making quality gadgets available to billions of people around the world.
Lei Jun’s story is an example of how tenacity, strategic thinking and a focus on the user can change the world, from a programmer writing code at night to one of the richest people on the planet, it’s a journey that inspires entrepreneurs around the globe.
Xiaomi’s future is likely to be in artificial intelligence and robotics. Lei Jun has already unveiled the humanoid robot CyberOne, hinting that the company is poised to take another high.