The development of mobile phones will forever define the 21st century. Mobile phones paved the way for several innovations and inventions that changed the way we function, and that too for good. The transformation from black-and-white cellphones to smart devices is an intriguing one.
Present-day smart phones are no less than a Swiss army knife; a user can surf the Internet, make a video call, transfer files, play HD games, and keep oneself busy through countless apps. Social media and general digital presence would be nonexistent with mobile apps.
Apple started the smartphone revolution, and other companies like Samsung, Nokia, One Plus, Vivo, and Motorola quickly caught up. But when it comes to affordability and user-friendliness, Xiaomi tops the charts.
Today, MI by Xiaomi is a household name that spans across mobile phones, televisions, earphones, laptops, bags, trimmers, and what not! Lei Jun, the Steve Jobs of China, is instrumental in Xiaomi’s powerhouse presence. Read on to learn more about the Lei Jun biography.
Lei Jun’s Education and Struggles:
Life was never easy for Lei. The instances of pain and suffering are enough content for a book! A true entrepreneur that he is, Lei never cratered in front of obstacles and pulled off stuff people would consider daunting. He was born in the city of Xiantao, China. Growing up close to the industrial city of Wuhan, most of his childhood was characterized by difficult times.
Lei then went to Wuhan University to get his BA in computer science in 1991. After graduation, he had only one aim: to serve the world through his learning.
Creating an Empire:
As a college student, Lei was interested in and inspired by Steve Jobs’ work.He wanted to build his own business and wanted to wrap up college quickly to devote all his time to it.This marked the beginning of Lei’s journey and a change in the world of smartphones.
After graduation, Lei joined Kingsoft, a Chinese software company. He worked there as an engineer in 1992. Within no time, he became the CEO of the company through sheer skill and determination. During his time with the company, he founded Joyo.com. In 2004, Amazon.com paid $75 million to purchase this online bookstore.
Lei also invested in successful startup companies like YY and UC at the start of this decade. He oversaw a total of 70 funding rounds for his company as well.
After spending 16 years with the software company, Lei resigned as the CEO due to health reasons and became the Vice Chairman at Kingsoft. After a few days, he announced his investment in Vancl.com and UCWeb. Lei then became the chairman of UCWeb. Alibaba has acquired the UCWeb browser, which now has over 500 million active users.In 2010, he went on to pursue his passion and founded Xiaomi Inc.
Lei Jun wanted a piece of the fast-growing smartphone industry and introduced Xiaomi Inc. But to grow quickly, he needed a team. He turned to Sergey Brin, the co-founder of Google, for help.
Lei obtained a hefty investment from Hong Kong billionaire Chan. Chan managed Hang Lung Properties, which sponsored Morningside Ventures, and became a normal investor in Lei’s enterprise for many years. Apart from Chan, Lei additionally obtained budgets from Qiming Ceyuan and IDG Capital Partners. Xiaomi, founded by eight co-founders, was launched on April 6, 2010.
After a competitive period of difficult work, Xiaomi released its first Android-primarily based, totally new firmware named “MIUI.” In 2011, the enterprise released its first cellphone, the Xiaomi Mi1, which was followed by the Mi2.
The Mi1 was popular, so the next version of the phone had more cutting-edge features. With the assistance of Mobicity, the enterprise went directly to seize the era marketplace in international locations just like the United Kingdom, Australia, and lots more. In 2013, the enterprise released its Smart TV line.
With a circle of relatives of 8,000 personnel and over $2 billion in revenue, Xiaomi has a large presence in China, Malaysia, India, the Philippines, and Brazil.
Xiaomi has already invested in 20 startups and wants to help more than 100 businesses grow. Xiaomi has raised a total of $45 billion in six rounds of funding. The huge names within the buyer’s organization are Ratan Tata, DST Global, Qualcomm Ventures, and Temasek Holdings. Lei Jun’s internet really well worth is 2340 crores USD as of March 2021.
A Heavyweight Entrepreneur
Lei Jun is one of those select individuals who have revolutionized the smartphone industry. Within three years, Xiaomi became the fourth-largest company in China and has successfully dominated the software industry. Lei is one of the most successful businesspeople in the world today. In 1999, 2000, and 2002, he was one of the top IT figures, and China Central Television named him one of the top business leaders of 2012.
Lei is often called “Steve Jobs” in China because he helped make smartphones what they are today. His entrepreneurial endeavors reaped benefits for China. Xiaomi supports the livelihood of many and has enabled the middle-class section of society to own a smartphone.
“Entrepreneurship is overrated.” “The secret to success is hard work,” said Xiaomi founder Lei Jun.