When Xiaomi arrived in India, we knew it as a smartphone company but then we realised it was much more than that. It’s an Internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core. As much as its phones, the company’s IoT products are everywhere — air purifiers to floor vacuum mop, fitness bands to security cameras. On August 26, the company is hosting Smarter Living 2022 where new IoT products of the company will be showcased. And here’s what Raghu Reddy, chief business officer of Mi India, told us before the big event.
Raghu Reddy, chief business officer of Mi India
For Xiaomi, IoT devices have been as big a success story as its phones. How has it been a game changer since its launch?
In 2014, one of the pillars of Xiaomi was laid out by the founder of the company (Lei Jun)…. that we don’t want to be just selling smartphones but also be a world-leading IoT platform. And as part of the vision, he said we would invest in around 100 companies over the next five years to make different products that can work with Xiaomi smartphones. This brings us to what constitutes an IoT platform — consumer electronic products that can connect with the smartphone and make your life easier. We had to identify the core primary endpoint devices which happen to be our phones. And the company decided that all endpoint devices and the core technologies will connect to the IoT platform and will be driven by Xiaomi. Phones, laptops, TVs, routers, smart speakers… they are all designed and manufactured in-house. These 100-odd companies specialise in different segments but they follow our IoT protocol, so they work well with all Xiaomi products.
Second, how to ensure all these products feel like they are from the same company. So Xiaomi has laid out the design aesthetics of a lot of these other products. If you see any of the IoT products — be it security cameras or smart speaker — there is a Xiaomi feel to it. These are the two important pillars for our IoT vision. If you look at business figures till the end of 2020-21, we had 351 million connected devices to the Xiaomi IoT platform, making us the world’s leading IoT platform.
What about the India story of Xiaomi’s IoT platform?
To be honest, our official IoT journey may have started in 2014-15 but in earnest our real journey started in 2018. In 2015 we launched the Mi Band series and since then the category has grown massively. With every passing year it raised the bar to what qualifies as a fitness wearable. In a way, the Mi Band defines the category. Many people wanting a fitness band end up buying the Mi Band. We have shipped over 700 million units in the last six years. In 2016, we launched another important product, our air purifier. Back then, air pollution was creating a lot of discussion around health. It was one of the first home IoT products and it not just purified the air but also informed users of the quality of air around them.
After those baby steps, we brought in a router and then in 2018, the category took off in a big way and our first product was the smart TV. We managed to get the specs right. We call our smart TV an IoT device because it sits at the centre of your home. You can control smart devices around the house from the TV, like access the feed from your security camera. In fact, security cameras were a big step forward because our product was easy to install… it was DIY. Connect the security camera to the Wi-Fi and to the phone. Earlier, somebody had to come and install the same. It has been the bestseller in the category since its launch. At first we thought people will use it to keep track of the elderly at home. But then we saw other use cases, like the device is being used in small- and medium-sized shops and coaching centres.
Mi Smart Speaker is another top-selling IoT product from Xiaomi. Picture: The Telegraph
Post lockdown, what has been the biggest launch in the IoT segment?
We launched a smartwatch and smart speaker last year but one of the most important launches was the Mi Robot Vacuum-Mop P. The market was niche and not everyone thought there was room for such a product. Post the initial lockdown, many people started asking for this product. We weren’t sure if people were willing to pay for such a product. Ultimately, we launched the product after a crowdfunding project and we were pleasantly surprised by the response. Life became convenient. It’s a quintessential IoT product and you can use it every day to clean the house and once in a while clean the dust compartment. The product continues to do well.
Will we see more of these IoT products at Mi Stores?
If you look at the Mi Stores, the intention is not just to sell phones but also carry all these products — TVs, laptops, security cameras, Mi Robit Vacuum and so on. We want to make sure all our new products solve pain points for customers in India and are easily available. India is a very large market. The journey is on and we will continue to add products.
