Xiaomi's Journey: From Startup to Global Powerhouse

What is the main focus of Xiaomi's transformation as discussed in the introduction?

• Becoming a leader in the fashion industry

• Transforming into a global tech powerhouse

• Focusing solely on electric vehicles

• Becoming a top food and beverage company

What inspired Lei Jun to start Xiaomi?

• The desire to create a new social media platform

• The achievements of companies like Apple and Google

• The need for a new gaming console

• The success of local Chinese companies

What does the name 'Xiaomi' symbolize according to Lei Jun?

• Starting small but aiming for greatness

• A focus on luxury and exclusivity

• A commitment to high profit margins

• A dedication to traditional retail models

What was a key feature of the Mi1 that set it apart in the market?

• Its focus on gaming capabilities

• Its top-of-the-line specifications at a lower price

• Its exclusive availability in physical stores

• Its high price compared to competitors

How did Xiaomi sell the Mi1 to keep prices low?

• Through a network of physical stores

• By selling exclusively online

• By offering it only to corporate clients

• Through exclusive partnerships with luxury retailers

What was a unique aspect of Xiaomi's marketing strategy?

• Using only print media for promotions

• Heavy investment in traditional advertising

• Relying on social media and word of mouth

• Focusing on celebrity endorsements

What is the philosophy behind Xiaomi's profit margins?

• To focus on high-end luxury products

• To maximize short-term profits

• To maintain a profit margin of over 20%

• To keep profit margins below 5%

What strategy did Xiaomi use to expand its product lineup?

• Focusing only on smartphones

• Investing in non-tech industries

• Partnering with other tech companies

• Limiting products to the Chinese market

In which year did Xiaomi launch its first electric vehicle?

• 2023

• 2010

• 2015

• 2018

What is a key feature of Xiaomi's electric vehicle?

• It is the most expensive EV on the market

• It is designed for off-road use

• It integrates with Xiaomi's ecosystem of smart devices

• It is powered by solar energy