Many leading technology brands including Apple, Samsung, Microsoft and Google have found it difficult to successfully establish in various product categories that they entered into over a period of time. Xiaomi uniquely has the distinction of having noteworthy presence in categories in entered in due course. With this track record the EV SUV7 should also become a success.
They say execution is far more important than an idea. In the smart devices’ world, Xiaomi has passed this with flying colours. It has a proven track record of successfully establishing itself in the product categories it ventures into. Today Xiaomi is present in more than 18 smart product categories and in many of them it is a significant player through its mass brand – Redmi. Xiaomi’s journey as a standalone premium brand has just begun. Xiaomi has one of the widest bouquets of smart devices that includes smartphones, smart tv, laptops, tablets, smart watches, TWS earbuds, air purifier, vacuum cleaner, air fryer, IP camera, smart bulb and few other smart consumer electronics. It also has some non-smart interesting products like portable air compressor, portable blender among others.
The latest excitement is its EV SUV7. The electric vehicle offers promising features curated through an interplay of several technologies and connectivity. Just after its global launch, the initial response seems to be again in line with Xiaomi’s track record – a big success. Not only are some interesting sales figures popping up in social media discussions around this car, but the EV is also receiving appreciation from the people who have had a first-hand experience either at the MWC 2024 or after it was officially launched last week. Today it will start delivering to the customers.
Contrast to this, several global technology giants have faced failures in products. Microsoft’s smartphone tryst is hidden to none. Even Apple, which has an impeccable track record in devices so far, decided to shelf off its automobile project. There was also a time when Apple had a 4-screen vision that also included launching a TV. Eventually, it only launched a connected media player to stream content. Google also had in the past what it called internet phone, which again did not see much success. Its Pixel is a comeback attempt in smartphones, and we are yet to see its grow. Samsung had laptop business long back, which it discontinued only to reintroduce Galaxy Book. It also had a printer business that it sold off to HP.
In the recent past we saw OnePlus and realme quietly discontinuing smart TVs. The list can go on and on. Xiaomi has this rare distinction of not only been able to create sustainable categories but also massify many of these, which in real sense can be seen as democratising innovation. For example, billions of users worldwide got an opportunity to own a smartphone through Redmi. Even though the product might not have offered a flawless experience, Redmi as a brand has played a significant role in empowering billions of users worldwide with a smartphone, which become their first exposure to the smart and connected world.
Xiaomi’s execution around products has been impeccable making it a trusted and reliable smart devices partner for billions of customers worldwide. In India its trusted by millions of customers using its various smart devices, of course, smartphone leads that. Through its recently shared vision of Human-Car-Home it has made its intentions loud and clear. Consumers irrespective of where they are can stay in a Xiaomi smart world with HyperOS as the binding force.
Now after serving this huge volume of consumers across a wide array of smart devices, Xiaomi has strongly positioned itself to serve them as they step up their journey by wanting to spend more and buy premium experiences. At the same time, the huge data gathered around usage and patterns of users gives Xiaomi a great advantage to leverage AI to drive intelligence in its smart ecosystem.
Xiaomi is already in a transitionary phase where its attempting to drive mass market and premium segment with equal attention through Redmi and Xiaomi brands. With the proven track record and the inherent strengths like that of having huge insights around customer usage and behaviour, the next 3-5 years are going to be worth noticing for Xiaomi that could make it only stronger in the converged smart world.
