Xiaomi

Xiaomi (Mi) has grown into a globally recognized and highly reputable brand in today’s tech world. Within just a few years, this Chinese company captured a major portion of the smartphone market—especially in China—where Samsung had long dominated. By 2015, Xiaomi became the top smartphone brand in China, a country with nearly 1.4 billion people at the time.

This rapid rise significantly boosted the wealth of the company’s CEO, as the demand for mobile devices in China is exceptionally high. Even tech giant Apple began facing intense competition in the Chinese market because of this relatively new entrant in the smartphone industry.

After establishing a strong presence in China, Xiaomi expanded into the United States, where it also received an impressive response from consumers.