Xiaomi had an excellent 2014, selling 40 million units in the year, a 266 per cent increase year-on-year. The Chinese startup is now the third largest smartphone maker in the world behind Apple and Samsung.
Smartphones are not the only market Xiaomi is focused on, the company has been working on air purifiers and smart home devices, partnering with various companies to create a smart home platform in Mainland China.
The first four smart home devices were announced in October 2014, including:
- Mi Smart Power Plug — Remote controlled with USB interface and timer switch.
- Ants smart webcam — 720p resolution x4 zoom with 2-way voice calls.
- Yeelight smart lightbulb — LED light bulb.
- Mi Smart Remote Center — Home system to control Xiaomi TV, air purifier, music player and other devices.
Xiaomi's president Bin Lin claims this is only the start of the company's investment in smart home devices, which will continue into 2015 with even more partnerships and investments.
Ideally, these partnerships would lead to the smart home device working on Xiaomi's smart home platform, giving Xiaomi even more compatible devices to work with and show off to consumers.
The Chinese manufacturer is valued at $45 billion (£29.6b) after a $1.1 billion (£7.2m) round of funding completed late last year. Reports say Xiaomi could hit $100 billion (£65.7b) valuation once it reaches target countries like Brazil, Europe and the U.S.
Xiaomi recently released the Mi Note and Mi Note Pro at an event on Thursday, two 5.7-inch smartphones competing with the iPhone 6 Plus and Galaxy Note 4. Analysts claim Xiaomi should sell five millions units by mid-2015.