This year, Xiaomi has released 44 non-phone products, four times more than the number of phones released within the same period.
With the current business model, Xiaomi can keep growing its user base even through non-phone products. There are lots of households that might not have a Xiaomi phone but have a Mi TV, Mijia air filter, Mijia projector, or Mijia air conditioner. Since most of its household appliances products are smart, owners automatically get plugged into the Xiaomi system.
The Chinese giant currently has the largest IoT platform in the world and it is not resting on its oars. Last week, it restructured its semiconductor business which resulted in the formation of a new company that will focus on the development of AI and IoT chips for use in its products.