Xiaomi was co-founded in 2010 by Lei Jun at that time non would have predicted or imagined that a budget friendly smartphone company would be challenging companies like Apple, Samsung, Tesla.
A few years back this same company made headlines when they set the Guinness World Record for selling over 2 Million smartphones in just 24 hours.
Since then xiaomi has evolved and in June they launched their first electric SUV, the YU7 and sold over 200,000 units in just 3 minutes.
What makes xiaomi different from other brands like apple is its approach of building an ecosystem of affordable and connected devices.
Apart from smartphones they also sell Smart air-conditioners, robo-vacuums, scooters, TVs, and all of these devices are perfectly designed to integrate seamlessly.
But they also had their rough path in 2022 and they bounced back in 2024 and had a market value of over $190 Billion.
Apple itself has tried breaking into the electric vehicle market through its "project Titan" but the world is yet to see any major breakthrough.
If all goes to plan xiaomi won't just challenge the smartphone makers they would also challenge local top car brands like BYD.
Although the company still faces stiff battle from competitors, geopolitical tension, and recently imposed tariffs by countries especially the United States.
But with affordability and innovation they can achieve the unachievable.