Xiaomi announced that it has entered Fortune Global’s list of top 500 companies for the first time in nine years.
China’s world-leading technology company, Xiaomi, is the smallest listed company in the Fortune 500 list of 2019 companies, ranking 468, with revenues of 26 billion, 443 million and 500 thousand US dollars and net profit of 2 billion, 49 million and 100 thousand USD in the previous fiscal year. The company also comes in seventh place in the category of Internet services and retail.
“It took Xiaomi only nine years to reach Fortune’s global list of the top 500 companies, which is a milestone in the company’s record, and we owe our credit to all Mi enthusiasts, users, and firm support,” said Lee John, Founder and Chairman of Xiaomi, Chairman and Chief Executive Officer. “We are the smallest listed company this year, a record that we are proud of and that we are eyeing to drive our global expansion.”
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Over the past year, Xiaomi has made significant improvements and adjustments to their core strategies, management structures, R & D technology, product lineup, brand enhancements, etc. These have enabled Xiaomi to maintain its brilliance, even in fierce competition with its local and international peers. This honor marks the end of our endeavor, but a new beginning. Xiaomi will remain committed to creating innovative and innovative products, Competitive prices, as they adopt it in our philosophy, as an attempt to help Mi fans, users and investors to enjoy a better life.
In June, Xiaomi was also listed on Fortune’s list of the top 500 Chinese companies, ranked 53, as an Internet company, smartphone provider and Internet-connected device, founded in April 2010.
The company has achieved sales revenues of nearly 10,000 million yuan (about US $ 453 million and 720,000 US dollars) in 2012, while revenue is 100,000,000 yuan (about US $ 14.537 million and US $ 210,000) in 2017.
Xiaomi continues to highlight the value of its brand and its strong growth potential, thanks to its unique and strong business model and its dual strategy of “Smartphones + Artificial Intelligence”.
According to the International Market Research Organization (IDC), the Xiaomi brand of smartphones ranked fourth in the world in terms of volume of shipments, with annual growth of 32.2%. The company has also invested in more than 200 companies for ecosystem products. Many of these companies specialize in the development of smart devices. Xiaomi has created the largest global Internet platform for things for consumers, with about 171 million devices connected through Internet technology.
One of the top companies
Xiaomi has a strong presence in more than 80 markets around the world. According to the international market research, Xiaomi was ranked as one of the top five shipping companies in more than 40 markets in March 2019. It retained its position as India’s largest smartphone brand for nearly two years with a market share of 31.4%. In addition, the company has maintained a high growth rate in Western Europe, less than two years after its official entry there, ranking fourth in terms of smartphone shipments while progressing significantly in new markets in Africa and Pakistan.
In addition, Xiaomi is dedicated to building and expanding a new high-efficiency retail network in overseas markets, including electronic and non-electronic channels. As of March 31, 2019, the number of overseas-approved Mi Home stores stood at 480, an annual growth of 93.5%. There are more than 110 stores in Europe and 79 stores in India.
Xiaomi invests 10 billion yuan in the development of the “All in AIoT” strategy over the next five years as part of its dual strategy “Smartphones + Artificial intelligence of Things”, which provides opportunities to take advantage of AI and IoT opportunities, In the future, and lay a solid foundation for growth in the next five to ten years. In addition, the company plans to improve its business strategies and adjust them to replicate its success in China.
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The Global Fortune list of the top 500 companies, also known as Global 500, is rated annually for the top 500 companies worldwide. Fortune has been preparing and publishing this classification for 67 consecutive years. The magazine is based on its assessment of revenue and net profit during the previous financial year.