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What is Xiaomi (Mi)?

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What is Xiaomi

Xiaomi?

A company started just eight years ago has now become one of the world’s largest smartphone makers. I’m talking about Xiaomi. So What is Xiaomi? It’s opening stores and now rapidly expanding outside of China. So what’s behind the growth of this Chinese tech company?

Xiaomi is the fourth-biggest smartphone player in the world. It’s India’s top-selling smartphone brand and one of China’s top players. But its breadth is much more than that. It’s present in 74 markets around the globe, with nearly 15,000 employees and more than 300 million people are using its products or services.

While Xiaomi may be a foe for Apple, it’s somewhat of a friend to Google and Microsoft. Xiaomi smartphones run a version of Google’s Android operating system and the Chinese tech company is partnering with Microsoft to collaborate on artificial intelligence.

The company makes about 72% of its revenue from China, and 28% from the rest of the world. Xiaomi generates most of its revenues from smartphones, but it’s also expanded into other products like music and video streaming, too.

Xiaomi Outside Photo

The Beijing-based company wants its smartphones to be just the start of an entire device ecosystem for its users. Which may explain why it’s sometimes referred to as the “Apple of China.


Also Read: 10 Health & Fitness Gadgets by Xiaomi

When the company was first started, Xiaomi only sold its products online in an effort to reduce overhead costs. It avoided spending money on advertising and relied on brand loyal customers to spread the word. Xiaomi’s selling point was simple. Offer high-quality devices, but at lower prices than competitors. And it worked. Xiaomi became China’s number one smartphone in 2014. But the success was short-lived. Sales fell in 2016, pushing Xiaomi down several spots to number five in China.

New low-cost players were entering the market, and the company learned that by selling its phones online directly to consumers, well, it made it difficult to reach new customers, like those in China’s smaller cities. So Xiaomi began to change up its strategy. Recently it’s been getting into the brick-and-mortar game, opening a large number of stores in Hong Kong.  It plans to open 2,000 stores worldwide by 2019 with just about half of them in China.

xiaomi-home-store

Xiaomi Home Store | Courtesy: The Financial Express

It’s expanding its footprint outside of China, opening retail stores in Spain and Italy and forming retail partnerships here in the U.K. And while Xiaomi isn’t in the U.S. yet, Xiaomi’s head of its international business says they do have plans to enter the market.

It’s not just a smartphone business. Xiaomi also makes things like smartwatches, headphones, speakers, pillows, VR headsets, air purifiers, rice cookers, kitchenware, luggage, hats, and wallets. That’s on top of selling online content, entertainment,  and financial services.


Also Read: CIMON – AI Robot onboard at ISS

In 2017, Xiaomi’s sales grew more than 67% from the year prior, leading some to call it ‘China’s Phoenix.’ Product launch events for its new products can draw up to thousands of fans. And while companies like Samsung have used Kanye West and Bruno Mars to pump up fans for new products.

Xiaomi Home Store-1

Xiaomi events are usually headlined by well, the company’s CEO Lei Jun. As one of Xiaomi’s co-founders, he has a net worth of more than 12 billion dollars. He worked in technology and as an angel investor before starting the company in 2010. So what’s next? Smartphone shipments in China suffered their largest decline ever in the first quarter of 2018. And global smartphone sales declined last year for the first time since 2009.


Also Read: Reason Behind Indian Economy Growth

While the industry news is concerning for massive smartphone players, Xiaomi actually had an 88% increase in the number of phones they sold globally in the first quarter of this year. That’s compared to a slight decrease by Samsung and a slight increase by Apple. Xiaomi’s growth was largely because of its previous ho-hum performance though. So the question remains. Will “China’s Phoenix,” so dependent on its hardware business, fly to new heights? Or will it return to the ashes?

What do you think about Xiaomi and there Business Model? Do Mention in the Comment Section Below and Also Stay tuned for more Exciting things gonna happen on this platform.

Source: CNBC

Business

SoftBank to acquire majority stake in WeWork.

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SOFTBANK to Acquire WeWork

SoftBank a Japanese telecoms and Internet Company, which is very intimate and well known for funding and acquiring stakes in various Multi National Companies. SoftBank is about to take over around 50 percent of the company WeWork.

WeWork is an American company founded in 2010 by Adam Neumann and Miguel McKelvey that provides shared Workspaces and Offices to Technology Startups and services for entrepreneurs, freelancers, and startups, small and large Businesses.

SoftBank shares fell 5.4 % and suffered their biggest one-day drop in nearly two years on Wednesday (10 Oct 18′) partly on concerns about the prospects of eight-year-old WeWork whose outlook is tied closely to the ups and downs of the real estate market. Recent technology sector weakness also weighed on SoftBank’s shares, traders said.

WeWork_workspace

One of the sources told that the pricing and other details of WeWork investment are yet to be firmed up and the second source said Softbank is in talks to take a major investment in WeWork.

SoftBank and its giant Vision  Fund invested about $4.4 Billion August 2017 on WeWork and hold 2 board Seats in the Company. And Owns about 20 percent of the company.

Earlier the Wall Street Journal reported Softbank’s investment would be between around $15 billion to $20 billion and is most likely to come from the Softbank’s giant Vision Fund. Earlier June Journal says that the smaller Softbank investment discussion valued WeWork at up to $40 Billion.

wework_image

SoftBank’s other real estate-related investments include Compass, an online real estate marketplace, Katerra, a construction startup, and Indian hotel chain OYO Hotels.

SoftBank Group Corp, Tokyo Stocks

Image Courtesy: Reuters

SoftBank had earlier invested Billions of Dollars in U.S. ride-services firm UBER Technologies but owns a minority stack in the firm.

The Chinese unit of WeWork raised about $500 million in July from the investors including Hony Capital, SoftBank, Trustbridge Partners, to drive and expand its existence in the nation.

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Education

What’s inside your smartphone?

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smartphone,inside view,smartphone inside

As of 2018, there are around 2.5 billion smartphone users in the world. If we broke open all their newest phones, which are just a fraction of the total that’ve been built, and split them into their component parts, that would produce around 85,000 kilograms of gold, 875,000 of silver, and 40 million kilograms of copper. How did this precious cache get into our phones, and can we reclaim it?

Gold, silver, and copper are actually just a few of the 70 or so chemical elements that make up the average smartphone. These can be divided into different groups, two of the most critical being rare earth elements and precious metals. Rare earths are a selection of 17 elements that are actually common in Earth’s crust and are found in many areas across the world in low concentrations. These elements have a huge range of magnetic, phosphorescent, and conductive properties that make them crucial to modern technologies. In fact, of the 17 types of rare earth metals, phones and other electronics may contain up to 16. In smartphones, these create the screen and color display, aid conductivity, and produce the signature vibrations, amongst other things. And yet, crucial as they are, extracting these elements from the earth is linked to some disturbing environmental impacts. Rare earth elements can often be found, but in many areas, it’s not economically feasible to extract them due to low concentrations. Much of the time, extracting them requires a method called open pit mining that exposes vast areas of land. This form of mining destroys huge swaths of natural habitats, and causes air and water pollution, threatening the health of nearby communities.

Another group of ingredients in smartphones comes with similar environmental risks: these are metals such as copper, silver, palladium, aluminum, platinum, tungsten, tin, lead, and gold. We also mine magnesium, lithium, silica, and potassium to make phones, and all of it is associated with vast habitat destruction, as well as air and water pollution. Mining comes with worrying social problems, too, like large-scale human and animal displacement to make way for industrial operations, and frequently, poor working conditions for laborers.

Lastly, phone production also requires petroleum, one of the main drivers of climate change. That entwines our smartphones inextricably with this growing planetary conundrum. And, what’s more, the ingredients we mine to make our phones aren’t infinite. One day, they’ll simply run out, and we haven’t yet discovered effective replacements for some. Despite this, the number of smartphones is on a steady increase; by 2019 it’s predicted that there’ll be close to 3 billion in use.

This means that reclaiming the bounty within our phones is swiftly becoming a necessity. So, if you have an old phone,you might want to consider your options before throwing it away. To minimize waste, you could donate it to a charity for reuse,take it to an e-waste recycling facility, or look for a company that refurbishes old models. However, even recycling companies need our scrutiny. Just as the production of smartphones comes with social and environmental problems, dismantling them does too. E-waste is sometimes intentionally exported to countries where labor is cheap but working conditions are poor. Vast work forces, often made up of women and children, may be underpaid, lack the training to safely disassemble phones, and be exposed to elements like lead and mercury, which can permanently damage their nervous systems. Phone waste can also end up in huge dump sites, leaching toxic chemicals into the soil and water, mirroring the problems of the mines where the elements originated. A phone is much more than it appears to be on the surface. It’s an assemblage of elements from multiple countries, linked to impacts that are unfolding on a global scale. So, until someone invents a completely sustainable smartphone, we’ll need to come to terms with how this technology affects widespread places and people

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Business

Drop in shares of Tesla after SEC charges CEO Elon Musk with Fraud

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Elon Musk

On the last Thursday, Tesla shares dropped more than around 13 percent after the US Securities and Exchange Commission filed securities fraud charges against Chief Executive Elon Musk.

According to SEC, the tweets posted by Elon Musk were ‘false and misleading‘ and so files fraud charges against Musk. Musk Tweeted on August 7, that he had secured funding for taking the Company private at $420 per share.

 

Security and Exchange Commision said that the tweet let to the “Significant Market Disruption” is seeking civil penalties without noting an amount and to bar Elon from serving as an officer of a Public Company.

That Thursday afternoon Musk sent a statement calling it as an unjustified action.

The statement that Musk gave:

“This unjustified action by the SEC leaves me deeply saddened and disappointed. I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way.”

Elon Musk tweeted in August for considering taking the company Tesla private, which was not embraced by the Tesla board members and many shareholders, and eventually arouse SEC to investigate.

Later on August 24, after the news of the SEC quest had become known, Musk blogged here that the Tesla will remain a Public Company.

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