one of the world's largest smartphone makers.

世界最大的智慧型手機製造商之一

I'm talking about Xiaomi. It's opening stores and now rapidly expanding outside of China.

我在說的就是小米，現在它開了許多實體店面，並在中國以外的地區迅速擴張

So what's behind the growth of this massive Chinese tech company?

所以這家中國科技公司的成長有什麼樣的背景呢？

Xiaomi is the fourth-biggest smartphone player in the world.

小米是世界第四大的手機公司

It's India's top-selling smartphone brand and one of China's top players.

它在印度是最熱銷的手機品牌，同時也是中國最大的手機公司之一

But its breadth is much more than that.

但它不僅如此

It's present in 74 markets around the globe,

它出現在全球 74 個市場

with nearly 15,000 employees

有將近 15,000 名員工

and more than 300 million people

有超過三千萬人

are using its products or services.

使用它的產品及服務

While Xiaomi may be a foe for Apple, it's

雖然小米可能是蘋果的敵人

somewhat of a friend to Google and Microsoft.

但它某種程度上來說是 Google 和微軟的朋友

Xiaomi smartphones run a version

小米的手機使用的是

of Google's Android operating system

Google 的 Android 系統

and the Chinese tech company is partnering

而這家中國科技公司也正在和

with Microsoft to collaborate on artificial intelligence.

微軟談合作，共同研發人工智慧

The company makes about 72% of its revenue

公司大約 72% 的營收

from China, and 28% from the rest of the world.

是來自中國，28% 來自世界各地

Xiaomi generates most of its revenues from

小米大部分的營收是來自

smartphones, but it's also expanded into

智慧型手機，但它也有來自於

other products like music

其他產品像是音樂

and video streaming, too.

還有影片串流

The Beijing-based company wants its smartphones to be just the start

這家北京起家的公司想要讓手機成為使用者

of an entire device ecosystem for its users.

所有手機科技系統的開端

Which may explain why it's sometimes referred to as the “Apple of China.”

這可能可以解釋為什麼有時候小米會被稱為「中國版的蘋果」

When the company was first started, Xiaomi only sold its products online

當公司剛開始營運的時候，小米只在網路上賣產品

in an effort to reduce overhead costs.

為了降低高額的成本

It avoided spending money on advertising

它減少廣告支出

and relied on brand loyal customers to spread the word.

完全依靠顧客對品牌的忠誠度行銷到世界各地

Xiaomi's selling point was simple.

小米的銷售策略很簡單

Offer high-quality devices, but at lower prices than competitors.

那就是提供高品質的手機，以及相對競爭者更低的售價

And it worked.

就成功了

Xiaomi became China's number one smartphone in 2014.

小米在 2014 年成為中國第一名的智慧型手機品牌

But the success was short-lived.

但它的成功很短暫

Sales fell in 2016, pushing Xiaomi down several spots to number five in China.

銷售額於 2016 年下降，使小米在中國的排名下降至第五名

New low-cost players were entering the market, and the company learned that by selling its

更新的低價手機進入市場，這讓公司了解到

phones online directly to consumers, well, it made it difficult to reach new customers,

在網上賣手機給顧客很難觸及到新的客群

like those in China's smaller cities.

像是中國更小的城鎮

So Xiaomi began to change up its strategy.

所以小米開始改變策略

Recently it's been getting into the brick-and-mortar game,

最近它開始開設實體店面

opening a large number of stores like this one in Hong Kong.

它開了很多店面像是在香港的這間

It plans to open 2,000 stores worldwide by 2019 with just about half of them in China.

它計劃在 2019 年之前開 2000 家店，其中一半在中國

It's expanding its footprint outside of China, opening retail stores in Spain and Italy

它正擴展中國以外的業務，並在西班牙及義大利開零售店

and forming retail partnerships here in the U.K.

在英國談零售合夥

And while Xiaomi isn't in the U.S. yet,

然而小米還沒有在美國開店

Xiaomi's head of its international business says they do have plans to enter the market.

小米國際業務的主管說他們有打算進入美國市場

It's not just a smartphone business.

這不只是智慧型手機的商業

Xiaomi also makes things like smart watches, headphones, speakers, pillows,

小米也製造像是智慧型手錶、耳機、喇吧、枕頭

VR headsets, air purifiers, rice cookers, kitchenware, luggage, hats and wallets.

虛擬實境耳機、空氣清淨機、飯鍋、廚房用具、廚房用品、帽子和錢包

That's on top of selling online content, entertainment and financial services.

在線上銷售內容、娛樂和金融服務表現亮眼

In 2017, Xiaomi's sales grew more

在 2017 年，小米的銷售比起前年

than 67% from the year prior,

成長超過 67%

leading some to call it 'China's Phoenix.'

有些人稱它為「中國鳳凰」

Product launch events for its new products can draw up to thousands of fans.

新產品發表會可吸引上千的紛絲

And while companies like Samsung have used

像是 Samsung 的公司已經請

Kanye West and Bruno Mars to pump up fans for new products,

Kanye West 跟 Bruno Mars 來為新產品吸引更多粉絲

Xiaomi events are usually headlined by well, the company's CEO Lei Jun.

小米的活動通常都被 CEO 雷軍下很好的標題

As one of Xiaomi's co-founders, he has a net worth of more than 12 billion dollars.

身為小米的聯合創辦人，他的身價高達 120 億

He worked in technology and as an angel investor before starting the company in 2010.

他在 2010 年創立公司之前從事科技相關的工作，也身為天使投資人

So what's next?

所以下一步是？

Smartphone shipments in China suffered their largest decline ever in the first quarter of 2018.

中國智慧型手機銷售在 2018 年第一季劇烈下降

And global smartphone sales declined last year for the first time since 2009.

而去年國際市場上智慧型手機銷售自 2009 年起第一次降低

While the industry news is concerning for massive smartphone players,

當產業正擔心許多智慧型手機公司時

Xiaomi actually had an 88% increase in the number of phones

小米其實在國際手機銷售數量上增加 88%

they sold globally in the first quarter of this year.

在今年第一季

That's compared to a slight decrease by Samsung and slight increase by Apple.

相較於三星的小幅降低和蘋果的小幅增長

Xiaomi's growth was largely because of its previous ho-hum performance though.

小米的成長雖然主要是因為它之前老套的策略

So the question remains.

所以問題仍然存在

Will “China's Phoenix,” so dependent on its hardware business, fly to new heights?

「中國鳳凰」會依靠它的硬體商業，飛向新的高度嗎？

Or will it return to the ashes?

或是它會燃燒成灰燼？

Hey, guys, it's Uptin. Thanks for watching.

大家好，我是 Uptin，謝謝你們的收看

For more of our videos check out 'The rise of the Chinese smartphone' here

想看更多我們的影片請看「中國智慧型手機的崛起」

and my day at Huawei's campus in China here.

我在中國華為園區的一天

We're also taking suggestions for future CNBC Explains, so leave your comments in the section below

我們期待你們對未來 CNBC Explains 的建議，所以請在底下留言

and while you're at it, subscribe to our channel.

當你還在這裡看影片，別忘了訂閱我們的頻道