MOST INNOVATIVE
COMPANIES 2017
13. Xiaomi
Xiaomi
saw its smartphone sales sink in 2016 due in part to its ramped-up competition
with Huawei and BBK. But the company has seen remarkable international
growth—it sold 2 million devices in India in fall 2016—and hopes its sleek new
Mi Mix and Mi Note 2 smartphones will reignite sales in China. Xiaomi is also
working to upend the narrow perception of its brand: The company’s wide-ranging
hardware offerings include everything from headphones and fitness bands to
tablets and power strips and water purifiers. In 2016 alone, it introduced its
first laptop, a set-top box, a robot vacuum, a smart rice cooker, a $29 VR
headset, a quadcopter drone, and its MiJia electric scooter, among a slew of other
ventures.
Xiaomi aims to become an internet of things
powerhouse through its investments, so far, in 77 companies, which can tap into
Xiaomi’s resources, supply chain, and growing retail presence online and off
(Xiaomi opened three-dozen brick-and-mortar stores this year, with hundreds
more in the pipeline) to scale up faster. The company believe this portfolio
approach—which doesn’t involve hiring engineers to build all these
products—will create an ecosystem of devices and services with recurring revenue
streams.
(WWW.fastcompany.com)
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