{"id":35994,"date":"2019-07-25T16:09:38","date_gmt":"2019-07-25T08:09:38","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=35994"},"modified":"2019-07-25T16:09:40","modified_gmt":"2019-07-25T08:09:40","slug":"xiaomi-makes-fortune-global-500-list-for-first-time","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2019\/07\/25\/xiaomi-makes-fortune-global-500-list-for-first-time\/","title":{"rendered":"Xiaomi makes Fortune Global 500 list for first time"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Xiaomi Corporation announced that the company has for the first time made the Fortune Global 500 list, nine years after its iteration. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Beijing-based global technology leader is the youngest\ncompany on the Fortune Global 500 list for 2019, ranking 468th, with a revenue\nof US$26,443.50 million and a net profit of US$2,049.10 million in the previous\nfiscal year. The company also ranks 7th in the Internet Services and Retailing\ncategory. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt took Xiaomi only nine years to make the Fortune Global 500\nlist, a milestone that we owe a big thank you to all our Mi Fans and users for\ntheir unwavering support. We are also the youngest company on this year\u2019s list,\na proud record that we will keep in mind and bring to another level in the\nglobal expansion journey,\u201d said Lei Jun, Founder, Chairman and CEO of Xiaomi. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOver the past year, we have made significant improvements and\nadjustments in our core strategies, management structures, technology research\nand development systems, product lineups, brand developments, and much more.\nThese moves have empowered Xiaomi to continuously shine, even in the face of\nfierce competition from domestic and international peers. This honor does not\nmark the end of our pursuit, but simply a new beginning. We remain committed to\nmaking amazing and highly innovative products at honest prices, as our\nphilosophy states, in an effort to let our Mi Fans, users and investors enjoy a\nbetter life,\u201d Lei Jun added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As an internet company with smartphones and smart hardware\nconnected by an Internet of Things (IoT) platform at its core founded in April\n2010, Xiaomi was also named to Fortune\u2019s China 500 list for the first time in\nJune, ranking 53rd. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company reached RMB10,000 million (approx. US$1,453.72\nmillion) threshold in sales revenue in 2012, and RMB100,000 million (approx.\nUS$14,537.21 million) in 2017.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Xiaomi continues to demonstrate its healthy consumer brand\nequity and strong growth potential, thanks to the company\u2019s unique and powerful\n\u201ctriathlon\u201d business model, and the results of its dual-core strategy of\n\u201cSmartphone + AIoT\u201d. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to international market research organization IDC, as\nof March 2019, Xiaomi had become the world\u2019s 4th smartphone brand in terms of\nshipment sales volume, registering a year-on-year growth of 32.2 percent. The\ncompany has also incubated and invested in over 200 ecosystem companies, many\nof which are specialized in developing smart hardware, and thus built the\nworld\u2019s largest consumer IoT platform with approximately 171 million connected\nIoT devices, excluding smartphones and laptops, by late March 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Xiaomi\u2019s\nfootprints are now present in over 80 markets globally. According to\ninternational market research organization Canalys, as of March 2019, Xiaomi\nwas ranked among the top five in more than 40 markets in terms of shipment, and\nalso remained India\u2019s biggest smartphone brand for seven consecutive quarters,\nwith a market share of 31.4 percent. Additionally, the company has maintained a\nhigh growth rate in Western Europe, less than two years after its official\nentry, ranking 4th in terms of smartphone shipments, while making great strides\nin new markets in Africa and Latin America.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Xiaomi is\nalso dedicated to building and expanding its highly efficient new retail\nnetwork, which incorporates both online and offline channels, in overseas\nmarkets. As of March 31, 2019, there were 480 authorized Mi Home stores\noverseas, representing a 93.5 percent year-on-year growth, of which over 110 were\nin Europe and 79 in India.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Xiaomi is investing RMB10 billion in the development of \u201cAll in\nAIoT\u201d in the next five years as part of its \u201cSmartphone+AIoT\u201d dual-core\nstrategy, allowing the prospect to capitalize on&nbsp; artificial intelligence (AI) and IoT development\nopportunities in the future, and laying a solid foundation for the growth over\nthe next five to 10 years. Moreover, the company is planning to replicate its\nsuccess by enhancing and adjusting its business strategies from China to\noverseas ones. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Fortune Global 500, also known as Global 500, is an annual\nranking of the top 500 <a href=\"https:\/\/en.wikipedia.org\/wiki\/Corporation\">corporations<\/a> worldwide compiled and\npublished by Fortune magazine for 67 consecutive years, as measured by <a href=\"https:\/\/en.wikipedia.org\/wiki\/Revenue\">revenue<\/a> and net profit from the\nprevious fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Beijing-based global technology leader is the youngest company on the Fortune Global 500 list for 2019, ranking 468th, with a revenue of US$26,443.50 million and a net profit of US$2,049.10 million in the previous fiscal year.<\/p>\n","protected":false},"author":6,"featured_media":35197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1839],"class_list":["post-35994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-xiaomi"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/35994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=35994"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/35994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/35197"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=35994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=35994"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=35994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}