xiaomi   1206

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Xiaomi wants to come to America, but it feels more stuck in China than ever • Android Police
David Ruddock:
<p>There is no doubt in my mind that Xiaomi understands its home market and customers in a way that I, as an American, never will. But also as an American, I fail to understand just how Xiaomi intends to ever be a success here.

And this isn’t me sniping critique from a half-mile away: Xiaomi invited US journalists to demo showcases for its products earlier this week specifically to try to make the pitch that the company is taking the US market seriously. Xiaomi wants Americans to understand its ecosystem approach and all the benefits that it comes with. Xiaomi’s business model is predicated upon the idea that, as its smartphone customer base grows, so too will the customer base for its Mi ecosystem devices and, more importantly, subscription software and media services. Xiaomi has even promised that it won’t make more than 5% profit on any hardware it sells, as though to assure customers that they are getting the very best deal possible. The company’s profitability is supposed to be predominantly derived from those subscription services I mentioned.

As to how that could ever work in America? Frankly, the responses I got to this question - one Xiaomi has likely faced countless times from American journalists now - were basically nonsense. A product manager essentially told me a half-dozen times that he worked for Spotify, and he’s an American, so he <em>gets it</em>.

That’s… not an answer. Xiaomi was willing to acknowledge that the American market for things like email, cloud storage, streaming video, music, and smart home gadgets is intensely crowded. But there was no real pitch for how Xiaomi could leverage its hardware business to sell its own software and services to notoriously fickle Americans who already have tons of options for things like storage and streaming movies. The argument, in the end, boiled down to “if people buy some of our products, they will buy the rest of them.”

It’s just another take on the same very bad argument LeEco tried to use. <a href="https://www.androidpolice.com/2018/02/08/leecos-website-goes-companys-financial-troubles-worsen/">And we all know how that ended</a>.</p>

LeEco, if you'd forgotten, imploded after claiming it would have a fabulous electric car. And yes, this is the problem for Xiaomi outside China: there's a lot of competition from companies, notably Google (which gets in first on the device), offering cloud services.
5 days ago by charlesarthur
Xiaomi unveils big loss as it prepares to hawk IPO to investors • Bloomberg
Yuan Gao and Crystal Tse:
<p>Xiaomi Corp. revealed it lost more than $1bn in the first three months of 2018, as the Chinese smartphone maker prepares to persuade investors to buy into the largest initial public offering since 2014.

The eight-year-old company has begun gauging demand for a first-time share sale intended to fuel its expansion beyond China and bankroll the development of devices and media services. It also published its first prospectus for the sale of China Depositary Receipts in Shanghai on Monday, saying it plans to use about 40% of the proceeds to enlarge its global footprint. Xiaomi reported a 7bn yuan ($1.1bn) net loss on revenue of 34.4bn ($5.3bn) yuan in the first quarter…

…The Beijing-based company saw sales from more lucrative smart-home devices and internet services grow as a proportion of overall revenue in the first quarter. Roughly 31.8% of Xiaomi’s revenue in 2018’s first three months came from products such as air purifiers and scooters and online services such as mobile apps, according to the filing. Those two segments contributed 29% of sales in 2017.

Its biggest business, smartphones that barely make a profit, declined in importance to just 67.5% of sales from more than 70% in 2017. Xiaomi said it made a profit excluding one-time items of 1.038bn ($162m) yuan in the first quarter.</p>

Estimates are that it could be valued at around $90bn. Personally, I don't see what its moat is - what is there to stop its users drifting away to other brands, or alternatively to stop other brands moving into its space? It's already losing out on its best-known space, smartphones. Though with a $3.3bn revenue, it's a significant player, ahead of LG, Sony, Motorola/Lenovo, and other names.

The phones are pretty cheap, though. On that revenue, and Counterpoint's figure of 27m shipped, the ASP is $122 - which doesn't leave any room for error.
7 days ago by charlesarthur
Environmentalists criticize Xiaomi ahead of billion-dollar IPO • Sixth Tone
Sixth Tone:
<p>Two environmental groups are accusing Xiaomi of poor oversight of its supply chain after the Chinese tech giant earlier this month filed for an IPO with the Hong Kong Stock Exchange, according to a joint report released Tuesday.

On May 12, the environmentalists found that a Jiangsu factory which manufactures components for Xiaomi was discharging copper-contaminated wastewater into a nearby river. According to the report, coauthored by the Institute of Public and Environmental Affairs (IPE) and the Lüse Jiangnan Public Environment Concerned Center (PECC), tests conducted on May 12 confirmed the contamination.

The factory, owned by Taiwan-headquartered Ichia Technologies, had previously been fined 117,000 yuan ($18,000) by the provincial environmental bureau in March for the same offense. Sixth Tone’s calls to the factory went unanswered on Tuesday.

The report also accuses four other companies said to manufacture screens, casings, and other parts for Xiaomi cellphones of having past environmental violations.

On May 3, Xiaomi filed for an IPO on the Hong Kong Stock Exchange, aiming for a $100 billion valuation that would make it the largest listing of the year. But the environmental groups say that the tech company did not disclose the supply chain environmental lapses in its prospectus — contravening the exchange’s full disclosure requirement.

When reached by phone on Tuesday, a Xiaomi PR representative told Sixth Tone that he was not at liberty to comment, as the company was still ascertaining the situation.</p>

By "still ascertaining the situation" the spokesman meant "still ignoring the situation, which has been brought to Xiaomi's notice multiple times over multiple suppliers in the past four years".

But nobody much cares about environmental responsibility, unless it offers a chance to bash Apple.
Xiaomi  environment 
28 days ago by charlesarthur

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