Xiaomi was included in the renowned Fortune Global 500 list in its 2021 edition for the third consecutive year. This year, the Chinese brand was ranked number 338. This represents an advance of 84 places compared to last year’s ranking. Recognizing Xiaomi as the fastest growing company in the Internet and Retail category of the Fortune Global 500.
“Unlike our past achievements, today we are more focused on our growth potential. SHowever, we continue to be a young company, but at the same time ambitious and full of motivation. I sincerely thank the Mi Fans around the world. Ythat their unwavering support has helped Xiaomi become a dynamic and energetic company. I consider that this achievement is not the limit for the company and that people will see an even stronger and more powerful Xiaomi. For this reason, I am confident that we will achieve a much higher record on the Fortune Global 500 list next year. ” commented Lei Jun, Chairman and CEO of Xiaomi Corporation.
According to Xiaomi’s earnings report
The total revenue of the brand amounted to $ 38.05 billion dollars in 2020. Positioning itself in position 338 of the Fortune Global 500 list of 2021. Likewise, in this year Xiaomi continues to have accelerated growth. Showing a significant increase in terms of income and net profit, thus exceeding market expectations. Furthermore, in the first quarter of 2021, Xiaomi’s total revenue amounted to $ 11.90 billion USD. Which represents a 54.7% year-over-year increase. While the adjusted net profit for the period was $ 943 billion dollars, with an increase of 163.8% annually.
Likewise, this growth is attributed to the improvement of Xiaomi’s presence in the high-end cell phone market. In addition to its rapid growth in international markets and the development of the company’s new retail business.
For its part, Xiaomi’s central focus on technology has been the drive to create a better user experience and has strengthened its position in the high-end market segments through its Mi 10 and Mi 11 series. quarter of 2021, global cell phone shipments exceeded 4 million.
Similarly, the company’s global expansion fueled its overall growth.
In this sense, on July 16, Xiaomi announced that, according to Canalys, the company ranked second worldwide with a 17% share in cell phone shipments, surpassing Apple. In the international market, the brand exceeded the year-on-year growth of 300% in Latin America, more than 150% in Africa and more than 50% in Western Europe. Xiaomi smartphones have entered more than 100 markets around the world. Occupying the first place of participation in smartphones in at least 12 markets and occupying the second place in Europe in terms of market share. Furthermore, it has been ranked number one in India for 15 consecutive quarters.
Regarding the retail channel, Xiaomi’s physical stores have expanded rapidly since 2020
The total number of Mi Stores of the company in China exceeded 5,500 at the end of April 2021, while internationally, there are already 1,000 Mi Stores. For its part in Mexico, Xiaomi plans to carry out new openings in Puebla, Quintana Roo, Nuevo León, the State of Mexico and Mexico City.
Likewise, Xiaomi continues to invest in research and development, as well as in talent, offering attractive rewards for its Research and Development team, in addition to starting the second phase of the Xiaomi Smart Factory project. “Over the next decade, Xiaomi will be a new driving force in the manufacturing industry,” added Lei Jun, on the company’s 10th anniversary. For this reason, smart manufacturing is becoming one of Xiaomi’s main competitive advantages.
Moreover, while Xiaomi leads the smartphone, AIoT and smart manufacturing industry, the company has also proactively entered the smart electric vehicle market. In March 2021, it was officially announced that the company will establish a subsidiary led by CEO Lei Jun, in order to operate the smart electric vehicle business, with a total investment of 10 billion dollars over the next 10 years, being the initial phase of the investment, $ 1.5 billion. Ultimately, smart electric vehicles will be a major driver of new growth for Xiaomi.
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