Xiaomi, currently the fourth largest in smartphone maker in the world, seems to have found a new stream of revenue.
The Beijing-based manufacturer has recently started publishing mobile games through its own app store, the Xiaomi app store. Xiaomi is currently publishing games for its Android-based phones.
Titles under its banner will have the "Mi" logo atop the game icon. According to Tech in Asia, Xiaomi has already published nine games. This list includes Xiaomi Poker, Clash of Kings and Songs of Knights.
"A Xiaomi representative confirmed to Tech in Asia that the company is now publishing games but declined to comment on the financial terms it has set with game developers," Tech in Asia says.
Since 2014, China blocked Google Play, together with every Google service. However, even prior to the blocking, the Chinese have preferred to use apps that are developed by Chinese companies — both startups and established software companies.
With the Mi Store's growing presence, the developers now have a stable lobby where they can sell the apps and games they make and monetize them. According to Tech in Asia, third-party devs got RMB 600 million or $93 million worth of payout last year. In the same year Xiaomi reported RMB 197 million or $30 million worth of revenue courtesy of third-party games which sold well.
The said purchases are made using Xiaomi's Mi Credits, the company's virtual currency. Users can load up using their credit cards which are hooked to their Xiaomi accounts. Currently, there are 386 million people in China using Android as their mobile operating system. According to the 2014 census, the United States has 318.9 million people.
Bear in mind that Xiaomi is also manufacturing smart home and networking products. It also offers cloud storage service, Mi Cloud.
"They're not so much selling smartphones as they are selling a lifestyle," Ben Thompson notes of Xiaomi's ambition.
Photo : Jon Russell | Flickr
