It is another milestone for one of the most popular tech brands today. Xiaomi Group has ranked No. 266 on the 2022 Fortune Global 500 list, announced today. The world’s third largest smartphone manufacturer moved up the list for the fourth time in a row.
Xiaomi first appeared on the Fortune Global 500 list as No. 468 in 2019, just nine years after its founding, and has improved its ranking every year since – to 422 in 2020, to 338 last year. It has advanced more than 200 positions in four years, making it the fastest rising Chinese technology company.
With its revenue and adjusted net profit hitting new highs in 2021, Xiaomi Group’s total revenue reached RMB 328.3 billion, a year-on-year increase of 69.5%. It’s overseas market revenue for the same year also increased by 313.7% year-on-year, which accounts for 49.8% of its total revenue. In Q1 of 2022, this proportion increased to 51.1%.
The key to the brand’s success it its “Smartphone x AIoT” strategy, Xiaomi’s global smartphone shipments hitting record high in 2021. Its AIoT products also expanded rapidly, creating a rich ecosystem around smartphones. Canalys ranks Xiaomi third in the global smartphone industry with a market share of 14.1% in 2021. Its smartphone sales ranked first in 14 markets and was in the top five in 62 markets.
As of December 31, 2021, more 434 million smart devices were connected to its platform (this excludes smartphones, tablets, and laptops), a year-on-year increase of 33.6%. Its global MIUI monthly active users reached 509 million, which equates to a year-on-year increase of 28.4%. For 2021, the share of Xiaomi’s high-end smartphone shipments increased to about 13% of its total smartphone shipments, nearly, double that of the previous year.
Meanwhile, Xiaomi has continued to increase its investment in research. In 2021, its 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, the brand has been granted more than 26,000 patents, with its global patent applications exceeding 53,000.
Moving forward, Xiaomi remains committed to building amazing products with honest prices, allowing everyone to enjoy a better life through innovative technology. For more information on Xiaomi products in the Philippines, you may follow the brand’s official Facebook Page and website.
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.
