In the Financial Capital of the World – New York City – August 2, 2021 – Fortune ranks Xiaomi higher in its yearly summation of about 500 companies that made a remarkable milestone through the year. According to their article, Xiaomi advances from 422nd to 338th of Fortune Global 500.
This is the third consecutive year that Xiaomi was included in the Fortune Global 500. Its 2021 ranking makes it the fastest-growing company at the Internet and Retail Category on the Fortune Global 500 list of the year.
Lei Jun, Founder, Chairman, and CEO of Xiaomi said, “Compared to our past achievements, I’m more focused on our potential growth. Xiaomi is still a very young yet ambitious company, full of motivation. I’d like to sincerely thank our Xiaomi Fans around the world as your unwavering support have helped made Xiaomi so lively and energetic. I think that this is not the limit for Xiaomi, and I am confident that people will see an even stronger, more powerful Xiaomi in the future, and we will achieve a much more outstanding record in the Fortune Global 500 list next year.”
Based on Xiaomi’s yearly earnings report, the company’s revenue totaled $38.03 billion in 2020 – giving it a spot on this year’s global 500.
In the first quarter of 2021, Xiaomi’s total revenue for the period amounted to $11.89 billion, representing an increase of 54.7% year-over-year while adjusted net profit for the period came in at $940 million, an increase of 163.8% year-over-year.
In our opinion, these earnings are made possible through its smartphones. The company released several hyper-competitive smartphones in the first quarter of the year.
Xiaomi’s physical store network is expanding exponentially across the globe. It has now 1,000 Mi Stores globally and 5,500 in Mainland China. This is based on April 2020’s data.
In addition, they are leading in AIoT products and the company entered the electric vehicle industry raising billions of dollars in the process.
Above all, Xiaomi is thankful to its Mi Fans for keeping the company above its competition.