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Published in:
2023 | OriginalPaper | Chapter
Xiaomi: How Do the World’s Top Enterprises for Product Ecosystem Layout the Internet of Things?
Authors : Ziyi Zheng, Chuyan Li, Yan Tu
Published in: Innovation of Digital Economy
Publisher: Springer Nature Singapore
Abstract
Founded in 2010, Xiaomi started its business as a cell phone company and has become the best cell phone brand globally in terms of sales. Since 2013, by relying on the Internet of Things (IoT) and various hardware products, Xiaomi followed the trend and transformed from a platform enterprise to an ecosystem enterprise. It has created an outstanding Xiaomi product ecosystem called the “Mi Ecosystem.” The development of the “Mi Ecosystem” has mainly gone through two stages: interconnection and intelligence. Through cooperation with other companies of the “Mi Ecosystem” and concentration on AIoT strategy, its IoT layout has been gradually perfected. It has also become the world’s top company in the product ecosystem. How did Xiaomi predict the new storm of IoT in advance and become the center of the storm? How did it stand out in the fierce market competition by its perspicacious layout on IoT?