- Xiaomi achieved RMB 10,000 million (about $1,453.72 million) in 2012 sales revenue.
- Fortune Global list consists annual ranking of the world’s top 500 corporations also published as a magazine.
- Xiaomi was also first appointed to Fortune’s China 500 list in June, ranking 53rd.
Xiaomi Corporation announced that nine years after iteration, the business first entered the Fortune Global 500 list.
The Rise of Xiaomi:
The global technology player based in Beijing is the youngest company on the Fortune Global 500 list for 2019, ranked 468th, with revenue of US$ 26,443.50 million and net profit of US$ 2,049.10 million in the previous fiscal year. The firm also ranks seventh in the category Internet Services and Retailing.
It took only nine years for Xiaomi to create the Fortune Global 500 list, a milestone that we owe to all our Mi Fans and customers for their unwavering assistance. We’re also the oldest firm on this year’s list, a happy record that we’re going to maintain in mind and take the worldwide development path to another stage, “said Xiaomi’s founder, chairman and CEO, Lei Jun.
In a declaration, the firm said it achieved RMB 10,000 million (about $1,453.72 million) in 2012 sales revenue, and RMB 100,000 million (about $14,537.21 million) in 2017.
While Xiaomi produces a huge product range from smartphones to house essentials, it is the fourth biggest smartphone brand in the world as per IDC in terms of marketing quantity of shipments.
In our key policies, leadership structures, technology research and development schemes, item lineups, brand trends, and much more, we have produced important changes and changes over the previous year. These movements have enabled Xiaomi to shine continually, even in the face of national and global competitors ‘ strong rivalry. This recognition is not the end of our quest, but just a fresh start. As our philosophy says, we stay dedicated to creating incredible and extremely creative products at fair rates in an attempt to experience a better life for our Mi Fans, customers and shareholders, “Lei Jun added.
Founded in 2010 as an internet business with smartphones and intelligent hardware linked to its heart by an Internet of Things (IoT) platform, Xiaomi was also first appointed to Fortune’s China 500 list in June, ranking 53rd.
The Fortune Global 500, also known as Global 500, is an annual ranking of the world’s top 500 corporations compiled and published for 67 consecutive years by Fortune magazine, measured by the previous fiscal year’s revenue and net profit.
Xiaomi’s Recent International Expansion:
Xiaomi is also committed to constructing and extending its highly efficient fresh retail network in foreign economies, which includes both online and offline outlets. There were 480 permitted Mi Home shops abroad as of March 31, 2019, indicating the development of 93.5 percent year-on-year, of which more than 110 were in Europe and 79 in India.
Moreover, the company is planning to replicate its success by enhancing and adjusting its business strategies from China to overseas.