Xiaomi HQ, ChinaNews

Xiaomi makes it to Fortune Global 500 list for 4 consecutive years

Xiaomi Group made it to the 2022 Fortune Global 500 list ranking No. 266. The global technology company, which is the world’s third-largest smartphone manufacturer, moved up the list for the fourth year in a row.

Xiaomi first appeared on the Fortune Global 500 list as No. 468 in 2019, just nine years after its founding. The company has improved its ranking every year since – to 422 in 2020 and 338 last year.

According to Fortune Magazine, Xiaomi, which first entered the Fortune Global 500 List in 2019, has advanced more than 200 positions in four years, making it the fastest-rising Chinese technology company.

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Xiaomi’s revenue and adjusted net profit hit new highs in 2021. The 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%.

AIoT products

With its “Smartphone × AIoT” strategy, Xiaomi’s global smartphone shipments hit a record high in 2021. Its AIoT products also expanded rapidly, building a rich product ecosystem around smartphones. According to Canalys, Xiaomi ranked third in the global smartphone industry with a market share of 14.1% in 2021. Its smartphone sales ranked first in 14 markets and were in the top 5 in 62 markets. 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%. The number of its global MIUI monthly active users reached 509 million, a year-on-year increase of 28.4%.

In 2021, the share of Xiaomi’s high-end smartphone shipments increased to about 13% of its total smartphone shipments, nearly doubling from the previous year. Meanwhile, Xiaomi has continued to expand its investment in research. In 2021, Xiaomi’s R&D expenditure was RMB 13.2 billion, a year-on-year increase of 42.3%. In the next five years, Xiaomi’s investment in research is expected to exceed RMB 100 billion. As of March 31, 2022, Xiaomi has been granted more than 26,000 patents; its global patent applications exceeded 53,000.

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