How Xiaomi Became an Internet of Things Powerhouse
When Xiaomi entered the fiercely competitive smartphone market in 2010, it did so without even offering a real phone. The company only offered a free Android-based operating system (OS). Yet, within seven years, Xiaomi became one of the world’s largest smartphone makers, reaching $15 billion in revenue. Accelerating its growth rate, Xiaomi transformed into the world’s largest consumer IoT (Internet of Things) firm by 2020, with its revenue surpassing $37 billion and more than 210 million IoT devices (excluding smartphones and laptops) sold across more than 90 countries.
How was Xiaomi able to grow so explosively and what lessons can other companies learn from Xiaomi’s rise?
Breaking the curse of national particularism: EMNCs as pioneers of globalization
According to INSEAD Professor Amitava Chattopadhyay, an expert of the leading-edge trend of game-changing EMNCs, emerging markets are a gold mine of innovations. MNCs need to deep-dive into local customers for truly understanding them, which is a tough challenge for Japanese companies both in and outside emerging markets.
How are EMNCs and Japanese firms different in their management strategies?
EMNCs are starting to globalize seriously. Their management strategies differ from the those of firms from developed countries. How should Japanese firms think about EMNCs? This time, we bring the latest info on EMNCs from Professor Amitava Chattopadhyay of INSEAD.
