Xiaomi is expanding into premium smartphones and electric vehicles, positioning itself for long-term growth. The world’s third largest smartphone brand Xiaomi was founded in 2010 by Lei Jun and seven co-founders, all of whom had strong backgrounds in global technology companies such as Google and Motorola. Known for its value-for-money home appliances and smartphones, the company went public in 2018 on the Hong Kong Stock Exchange and has since established itself as one of the world’s leading technology firms. Xiaomi has firmly positioned itself as the third-largest smartphone brand in the world, holding a 13.8% market share as of the third quarter of 2024, behind only Samsung and Apple. The company entered the smartphone market in 2011 with the launch of the Mi 1, which was priced at $300 but offered premium specifications. This aggressive pricing strategy allowed Xiaomi to compete directly with higher-priced brands like HTC, which sold smartphones with similar specifications for $500....