Business and Money Tips

By now Xiaomi Tech (www.mi.com) has become the world's number 3 mobile phone maker, right after Apple and Samsung. Last year 2014 Xiaomi sold over 100 million smartphones in the world. In end of December 2014, Xiaomi became the world’s most valuable technology start-up after it received $1.1 billion funding from investors, making Xiaomi's valuation more than $46 billion. How did this China's company climbed to the world's top 3 position in just 3 short years? In our latest course Business is Booming (details are at here ), we teach you the 3 lessons from Xiaomi that we too can learn and apply in our business: 1. Focus on Quantity but with Quality Xiaomi sells its phones at cost (i.e. no margin at all) but such products are of similar quality to that of Apple and Samsung, but at half or less than half of their price. 2. Lose Money on Selling Phones but Make Money on Software If you include tooling, research and selling costs, Xiaomi is actually losing money on e