The key to building the world's largest IoT company? A novel collaboration-based strategy of "strategic coalescence"
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The key to building the world’s largest IoT company? A novel collaboration-based strategy of “strategic coalescence”.
Xiaomi entered the competitive Chinese mobile phone market in 2010 with MIUI, an Android-based smartphone software product which it offered for free. By 2017, it had achieved global recognition as a leading smartphone manufacturer and reached US$15 billion in revenue. Today, Xiaomi is the world’s largest Internet-of-Things (IoT) firm and by the end of 2020 had revenues exceeding US$37 billion.
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