Xiaomi in the list of Fortune Global 500 Companies

Xiaomi in the list of Fortune Global 500 Companies

Global technology leader Xiaomi has made it to the Fortune Global 500 list for the third year in a row. In the list of 2021, Xiaomi is 338th, 84 steps ahead of 2020; Which was 422nd in 2020. Xiaomi has been ranked as the fastest-growing company in the Internet and retail category in the Fortune Global 500 list by 2021.

Xiaomi in the list of Fortune Global 500 Companies

Leo Jun, founder, chairman and CEO of Xiaomi, said, “My focus is on potential growth from our past achievements. Xiaomi is still a young but ambitious organization that is full of inspiration. I would like express my sincere thanks to the fans of Xiaomi all over the world for their unwavering support. Which has made Xiaomi vibrant and enterprising.

This is no limit for Xiaomi, and I am sure we will see a more robust and greater Xiaomi in the future. Next year, we will have more outstanding records in the Fortune Global 500 list.”

According to Xiaomi’s earnings report, Xiaomi has a total revenue of 245.9 billion yuan in 2020, which puts it at 337th place in the Fortune Global 500 list. Xiaomi continues to increase in 2021, during which time the company has grown unimaginably in terms of revenue and profits. Which has exceeded the expected income.

In the first quarter of 2021, Xiaomi earned 7.9 billion yuan (Chinese currency), an increase of 54.6 per cent year-on-year. Profits rose 8.1 billion yuan during the period, up 163.6 per cent.

One of the reasons for this growing growth is the high-end category of smartphones in the market and the rapid growth in the international market, and the growth of the company’s new retail business.

Xiaomi’s primary goal is to create a better experience among users through the development of innovative technologies. Through this, Xiaomi’s high-end phone market, especially with the M10 and M11 series, has strengthened that position.

In the first quarter of 2021, Xiaomi delivered more than 4 million smartphones in mainland China and the world market, with an average price of 3,000 yuan per device in China and more than 300 euros in the world market.

Xiaomi’s global expansion has further boosted growth. On July 16, market research firm Canalis announced Xiaomi as the second-largest smartphone in the world. Surpassing Apple as the smartphone supplied by Xiaomi at the time, occupying a market share of 16 percent.

As an international market, Latin America has grown by 300 percent a year. In comparison, the African market has grown by more than 150 percent, with incredible growth in Eastern Europe, which is 50 percent. Xiaomi’s smartphones have now entered more than 100 countries and regions around the world.

Xiaomi tops the list in at least 12 of these markets and is the second-largest in Europe in market share. And in the last 15 quarters, Xiaomi has held the top spot in India.

In terms of new retail, Xiaomi’s physical stores have expanded rapidly since 2020. As of April this year, the number of Mi Home stores in China stood at more than 5,500 and more than 1,000 Xiaomi stores in the international market. In addition to this, Xiaomi’s physical retail network is being built very fast worldwide.

Xiaomi has continued to invest in various talents, including research and development. As the company inspires the R&D team, Xiaomi is constantly gifting new technology to its customers. And that’s why you started the second phase of the Xiaomi Smart Factory project. Xiaomi will be the new driving force in the manufacturing industry in the next decade, said CEO Lei Jun on Xiaomi’s tenth anniversary.

Leo Jun, founder, chairman and CEO of Xiaomi
Leo Jun, founder, chairman, and CEO of Xiaomi

While Xiaomi is leading in the smartphone, AIOT, and intelligent manufacturing industries, the company has actively entered the intelligent electric car market. In March 2021, the company officially announced that Xiaomi was entering the electric car market under the leadership of CEO Lei Jun.

Xiaomi will invest at least 10 billion dollars in this sector in the next 10 years. At the initial stage, the company will invest 10 billion yuan or 1.55 billion dollars. Intelligent electric cars will be the new driving force for Xiaomi.

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News Source:

https://www.gizmochina.com/2021/08/03/xiaomi-338-position-fortune-global-500/
https://www.tbsnews.net/economy/corporates/xiaomi-advances-338th-fortune-global-500-283075
https://techcrunch.com/2020/10/28/samsung-beats-xiaomi-to-reclaim-no-1-spot-in-indian-smartphone-market/
https://inf.news/en/tech/06daa2a38cdeb0b4df045d33f074bda1.html
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