Type Private company Products Capsule Speakers | Headquarters Singapore | |
Industry Electrical/Electronic Manufacturing, Audio Founded Singapore
(August 2006; 10 years ago (2006-08)) Key people Ryan Lee
(Founder, CEO) | ||
Xmi Private Limited, is a Singapore technological company founded in 2006 by brothers Ryan Lee and Reuben Lee together with Barry Choo. Ryan Lee is also the current CEO of the company. Xmi focuses on introducing the newest wave of multimedia products to the global market, starting with an objective of creating the smallest portable speaker with the highest quality sound possible. Xmi is more commonly known as X-mini™ which is the brand name of its products.
Contents
- Products
- Overseas Market
- Awards
- 2016
- 2014
- 2013
- 2012
- 2011
- 2010
- 2009
- 2008
- Corporate Social Responsibility
- References
The main products that the company offers are compact and portable capsule speakers that have in-built rechargeable batteries which work mainly with smartphones, tablets and other smart devices. The newer capsule speakers produced by Xmi includes Bluetooth capabilities which allows wireless connection with smart devices. Xmi managed to break-even on all first year expenses within three months of launching of its first X-mini™ Capsule Speakers. As of 2012, Xmi has sold close to three million units of the X-mini™ Capsule Speakers.
Products
Xmi introduced their first X-mini™ speakers in 2007. The first batch of speakers had the Bass Xpansion System (BXS) which allows the speakers to compress for portability and expand to produce fuller sound. The X-mini™ speakers had built-in rechargeable batteries to provide a direct energy source for the speakers.
In 2009, Xmi launched the second generation speakers with a new function called "buddyjack" which enables users to connect multiple capsule speakers to a single source of music.
In 2011, Xmi invested approximately $1million in a manufacturing plant in Shenzhen, China to help produce components and research for new ideas and improvements for its X-mini™ products. The plant employs about 180 engineers and assembly workers.
Till date, Xmi's product lines encompass largely different models of capsule speakers produced by the company such as X-mini™ KAI, X-mini™ MAX, X-mini™ RAVE and X-mini™ HAPPY. X-mini™ HAPPY has a built-in MP3 player and a SD card reader which allows it to function like a flash drive when connected through USB. Xmi's products also include audio systems such as X-mini™ CLEAR and also portable smartphone speakers such as X-mini™ ME and X-mini™ WE. According to Lee, Xmi is currently looking to diversify its product lines, moving to slightly larger speakers and looking at incorporating Wi-Fi functions into its speakers.
Overseas Market
Xmi currently sells in over 80 countries across regions like Asia Pacific, Australia, Europe, Latin America, Middle East and North America. In 2014, international sales of Xmi's products account for 95% of its total revenue. Since Xmi was established, it had taken a proactive stance on selling on the global market so as to have a larger consumer population. Lee understood that Xmi has to produce in large quantities to survive as a business. Xmi USA was officially incorporated in Los Angeles, California on 27 April 2012 which will serve the markets in North America and South America. After Xmi USA's incorporation, Xmi has managed to double its revenue in 2012.
Awards
Over the years, Xmi's range of Capsule Speakers had various awards under its name for its innovation and design in particular the red dot design award with Xmi having won the award for five times. X-mini™ speakers have also received award commendations from many major industry reviewer such as CNET, HardwareZone, PC Magazine, Stuff and T3. In addition, Xmi has also won business awards that recognize companies for entrepreneurship and brand development. In 2008, Lee was nominated as one of Asia's top young entrepreneurs by BusinessWeek.
2016
2014
2013
2012
2011
2010
2009
2008
Corporate Social Responsibility
Xmi had donated 10 percent of the profits from the sale of the X-mini™ HAPPY Capsule Speaker model to the Children International to provide children in developing countries basic necessities such as food, education and healthcare.
In 2007, Xmi had partnered with Nanyang Polytechnic in Singapore to organize a competition that required student participants to develop real industrial designs. The competition aimed to promote design and innovation among the youths in Singapore with the eventual winner being offered the opportunity to join Xmi.
Xmi supports the government’s effort in providing aid in terms of funding, overseas expansion routes, workshops and presence at international trade fairs. Being a Singaporean company, Xmi joins other local companies to collectively build up Singapore’s branding as a country at trade fairs abroad to help put the Singaporean companies on the international map. In 2009, Xmi collaborated with other Singapore companies in participating in the Blue Sky Festival to collectively help raise the profile of Singapore's brands internationally.