Xiaomi Corp.
Company History
Xiaomi History: Founding, Growth & Key Milestones
Founded 2010 in Beijing, China
When was Xiaomi founded?
Xiaomi was founded in 2010 in Beijing, China by Lei Jun and Lin Bin, making it 16 years old.
- Founded
- 2010
- Founding place
- Beijing, China
- Founders
- Lei Jun and Lin Bin
- Headquarters today
- Beijing, China
- Milestones documented
- 12 (2010–2026)
- Current CEO
- Lei Jun
- Acquisitions
- 1
| Year | Event |
|---|---|
| 2010 | Xiaomi Founded |
| 2011 | Mi 1 Launches |
| 2013 | Hugo Barra Joins From Google |
| 2014 | India Entry and $45B Valuation |
| 2018 | Hong Kong IPO |
| 2019 | Fortune Global 500 Debut |
| 2021 | EV Entry Announced |
| 2021 | Acquired DeepMotion |
| 2023 | HyperOS Announced |
| 2024 | SU7 Launch |
| 2025 | Record Year and YU7 Launch |
| 2026 | Memory Costs Hit Profit |
- Where was Xiaomi founded?
- Xiaomi was founded in Beijing, China in 2010. wikidata.org
- Who founded Xiaomi?
- Xiaomi was founded by Lei Jun and Lin Bin.
- When did Xiaomi start?
- Xiaomi was founded in 2010.
- How old is Xiaomi?
- Xiaomi is 16 years old as of 2026.
Founding Story
Lei Jun founded Xiaomi in Beijing in April 2010 with seven co-founders. Its first product was the MIUI Android software, released in August 2010. The Mi 1 smartphone followed in 2011 and sold online at a low price for its specifications.
Founders
Lei Jun
Lei Jun founded Xiaomi in 2010 and is its chairman and CEO. He set the company's early strategy of selling well-specified phones online at low prices, built the MIUI user community, and later led Xiaomi's 2018 Hong Kong listing. In 2021 he announced Xiaomi's entry into electric vehicles and has personally led the car business, including the SU7 and YU7 launches. Lei Jun was born in 1969 in Xiantao.
Lin Bin
Lin Bin co-founded Xiaomi in 2010 and served as its president, overseeing early phone development and supply-chain relationships. He handed the president role to others in 2019 and continued as vice chairman of the board. Lin Bin was born in 1961. Education: Sun Yat-sen University. Lin was born on March 25, 1961 and is Chinese-American. He is vice chairman of Xiaomi.
Key Milestones
Xiaomi Founded
Lei Jun and seven co-founders establish Xiaomi in Beijing and release the MIUI Android software.
Source: en.wikipedia.orgHugo Barra Joins From Google
Hugo Barra left Google in 2013 to lead Xiaomi's international expansion.
Source: en.wikipedia.orgIndia Entry and $45B Valuation
Xiaomi enters India and raises funding at a reported $45B valuation.
Source: en.wikipedia.orgHong Kong IPO
Xiaomi lists on the Hong Kong Stock Exchange under stock code 1810 with a weighted voting rights structure.
Source: en.wikipedia.orgFortune Global 500 Debut
Xiaomi entered the Fortune Global 500 for the first time in July 2019.
Source: en.wikipedia.orgEV Entry Announced
Xiaomi announces it will build electric vehicles and sets up a dedicated EV subsidiary.
Source: en.wikipedia.orgAcquired DeepMotion
Xiaomi acquired DeepMotion for $77 million. Autonomous-driving technology company acquired to support Xiaomi's EV program.
Source: en.wikipedia.orgHyperOS Announced
Xiaomi announced HyperOS in October 2023 to replace MIUI across its devices.
Source: en.wikipedia.orgSU7 Launch
Xiaomi launches the SU7 electric sedan in March 2024 and begins deliveries.
Source: en.wikipedia.orgRecord Year and YU7 Launch
Xiaomi launches the YU7 SUV, delivers 411,082 vehicles, and reports FY2025 revenue of ~$63.6B (RMB457.3B).
Source: ir.mi.comMemory Costs Hit Profit
Q1 revenue falls 10.9% to ~$13.8B (RMB99.1B) and Q2 revenue falls 6.1% to ~$15.1B (RMB108.9B) as memory-chip costs squeeze margins.
Source: finance.yahoo.comMajor Acquisitions
DeepMotion
2021Autonomous-driving technology company acquired to support Xiaomi's EV program.
Keep researching Xiaomi
Xiaomi Company History FAQ
When, where, and how was Xiaomi founded?
Xiaomi was founded on April 6, 2010, in Beijing, China, by serial tech entrepreneur Lei Jun and seven co-founders (including Lin Bin) over a shared bowl of millet congee (xiaomi).
What was Xiaomi's first product before making hardware?
Xiaomi began as a software company, launching MIUI in August 2010, a custom Android-based mobile operating system designed with heavy user community input before launching any physical smartphones.
How did Xiaomi disrupt the smartphone market in 2011 with the Mi 1?
In August 2011, Xiaomi launched the Mi 1 smartphone with flagship specifications at half the price of Samsung and Apple, selling exclusively online through direct-to-consumer flash sales with zero traditional retail markup.
What was Lei Jun's famous '5% profit margin pledge'?
In April 2018, Xiaomi's board officially passed a resolution promising that the company's net profit margin across all hardware products (smartphones, IoT, smart home) would forever never exceed 5%.
When did Xiaomi go public on the stock exchange?
Xiaomi completed its initial public offering on the Hong Kong Stock Exchange (HKEX: 1810) in July 2018, raising $4.72 billion as the first company to list under Hong Kong's dual-class weighted voting rights rules.
When did Xiaomi enter the electric vehicle (EV) market?
In March 2021, Lei Jun announced that Xiaomi would invest $10 billion over a decade to build electric vehicles, describing it as the 'last major entrepreneurial venture' of his life.
What was the landmark launch of the Xiaomi SU7 electric car in 2024?
On March 28, 2024, Xiaomi officially launched its high-performance SU7 electric sedan, securing over 88,000 firm orders in its first 24 hours and delivering over 100,000 vehicles in record time.
What is Xiaomi's 'Human x Car x Home' strategy?
Introduced alongside its proprietary HyperOS platform, the strategy seamlessly connects personal devices (smartphones, wearables), smart home appliances, and electric vehicles into one unified intelligent ecosystem.
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