Xiaomi Corporation announced on July 22 that the company has, for the first time, made the Fortune Global 500 list, nine years after its iteration. The Beijing-based global technology leader is the youngest company on the Fortune Global 500 list for 2019, ranking 468th, with revenue of US$26,443.50 million and a net profit of US$2,049.10 million in the previous fiscal year. The company also ranks 7th in the internet services and retailing category.
“It took Xiaomi only nine years to make the Fortune Global 500 list, a milestone that we owe a big thank you to all our Mi Fans and users for their unwavering support. We are also the youngest company on this year’s list, a proud record that we will keep in mind and bring to another level in the global expansion journey,” said Lei Jun, Founder, Chairman and CEO of Xiaomi.
According to international market research organisation IDC, as of March 2019, Xiaomi had become the world’s 4th smartphone brand in terms of shipment sales volume, registering a year-on-year growth of 32.2%. The company has also incubated and invested in over 200 ecosystem companies, many of which are specialised in developing smart hardware, and thus built the world’s largest consumer IoT platform with approximately 171 million connected IoT devices, excluding smartphones and laptops, by late March 2019.
