• March 29, 2024
Xiaomi

Xiaomi Group, the world’s third largest smartphone manufacturer, moved up the Fortune Global 500 list for the fourth year in a row.

The global technology company landed 266th in 2022 from its 338th position in 2021.

Xiaomi first appeared on the Fortune Global 500 list as No. 468 in 2019, just nine years after its founding. The fast-growing company then climbed up to 422 in 2020.

According to Fortune Magazine, Xiaomi has advanced more than 200 positions in four years, making it the fastest rising Chinese technology company.

Xiaomi’s revenue and adjusted net profit hit new highs in 2021. Total revenue of Xiaomi Group in 2021 reached RMB 328.3 billion, a year-on-year increase of 33.5%. Its adjusted net profit reached RMB 22 billion last year, a year-on-year increase of 69.5%.

Xiaomi Group’s overseas-market revenue in 2021 increased by 313.7% year-on-year, accounting for 49.8% of its total revenue. In the first quarter of 2022, this proportion increased to 51.1%.

Xiaomi attributes its success to its “Smartphone x AIoT” strategy, wherein its smartphones go hand in hand with AIoTs to create an all-encompassing smart lifestyle.

According to the company, as of December 31, 2021, “more than 434 million smart devices were connected to its platform (excluding smartphones, tablets, and laptops), a year-on-year increase of 33.6%.”

Going forward, Xiaomi says it is committed to building “amazing products with honest prices so that everyone can enjoy a better life through innovative technology.”

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