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    What got Xiaomi to Fortune Global 500? Its youth, says Manu Kumar Jain

    Synopsis

    Being young is how we differentiate ourselves, says the Xiaomi India MD, on snagging the 468th position on the list.

    manu-kumar-jain-xiaomi-bccl
    Jain said that Xiaomi would like to bring its large ecosystem of IoT devices such as smart water purifiers, smart washing machines, smart ACs, smart EVs, to India over the next few years.
    Last week, Chinese smartphone manufacturer Xiaomi not only made its debut on the Fortune Global 500 list (ranking 468th) but it was also the youngest company to be featured. To celebrate this double win, Xiaomi founder and CEO Lei Jun announced that all 20,538 co-workers and members of external teams would each receive 1,000 shares of company stock.


    "It is an extremely proud moment for Xiaomi, and commemorates all the hard work which has gone into building one of the coolest brands globally," said Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India. "Xiaomi has been able to demonstrate our strength and determination, having ranked among the crème de la crème of global businesses."

    The Secret Ingredient
    But according to Jain and CEO Lei Jun, what truly differentiates the brand is the company's youth. "Being a young brand, we take pride in the fact that we challenge and redefine the rules," said Jain.

    ​Xiaomi founder and CEO Lei Jun and Manu Kumar Jain​ at an event in Bengaluru.
    Xiaomi founder and CEO Lei Jun and Manu Kumar Jain at an event in Bengaluru.

    "We were the first company to start selling smartphones via e-commerce, we extended internet efficiency to our offline retail and started our own e-commerce platform: Mi.com. We have a very young team who take risks, try different things and keep innovating the business model," explained Jain, recalling how the company spent zero marketing dollars when making its entry in India. "We were able to ride on popularity from word of mouth alone."

    What's next for Xiaomi?
    "Fortune Global 500 is just the beginning. We believe our work has only started. We will continue to work towards its dual AIoT and smartphone strategy. We have also made big strides in the league of 5G with Mi MIX 3 5G, and believe it is the next big thing," said Jain, listing some of the targets that Xiaomi has set its sights on such as developing efficient offline channels and strengthening Xiaomi's expansion in the European and Latin American markets.

    With regards to the Indian market, he said, "In China and other parts of the world, we have a large ecosystem of IoT devices such as smart water purifiers, smart washing machines, smart ACs, smart EVs and many more. Over the next few years, we would like to bring this ecosystem to India."


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