Xiaomi has risen to 338th position in the 2021 rankings and has been included in the Fortune Global 500 list for the third year in a row. It has a significant lead of 84th place in 2020 compared to 422nd place.
Its 2021 ranking has established it as the fastest growing company in the internet and retail category and has been included in this year's Fortune Global 500 list.
"Compared to our past achievements, I am very much focused on our potential growth," said Lei Jun, Xiaomi's founder, chairman and CEO. Xiaomi is still a young and ambitious company full of inspiration. I would like to thank our Xiaomi fans around the world for your unwavering support that has made our Xiaomi so vibrant and energetic. I think there is no limit to Xiaomi and I am confident that people will see a stronger, more powerful Xiaomi in the future, and we will have a very good record in the Fortune Global 500 list next year. ”
According to Xiaomi’s earnings report, Xiaomi’s total revenue was RMB 245.9 billion in 2020, which lifted Xiaomi to 338th place in the 2021 Fortune Global 500 list. In 2021, Xiaomi is on a strong pace of rapid growth. It has surpassed market expectations in terms of revenue and net profit.
In the first quarter of 2021, Xiaomi's total revenue for the period was RMB 76.9 billion. Which represented an increase of 54.7% year-on-year. The adjusted net profit for the same period was RMB 6.1 billion, an increase of 163.8% year-on-year.
Xiaomi's ever-expanding foothold in the high-end smartphone market and its rapid growth in the international market have contributed to the growth of the company's new retail business.
Xiaomi's focus on core technologies has given it the impetus to make it an advanced user experience and has strengthened its hold in high-end market segments through its M10 and M11 series. In the first quarter of 2021, global shipments of Xiaomi smartphones valued at 3,000 RMB or more in mainland China and 300 euros and above in the international market exceeded 4 million.
Xiaomi's global expansion has also driven its overall growth. On July 16, Xiaomi announced that according to Canalys, the company had overtaken Apple to become the second-largest company in the world with a 17 percent share of smartphone shipments. In the international market, Xiaomi has seen 300 percent year-over-year growth in the Latin American market, more than 150 percent in Africa, and more than 50 percent in Western Europe.
Xiaomi smartphones have entered more than 100 markets around the world. It ranks number one in the market share of smartphones in at least 12 markets and second in Europe in terms of market share. It has managed to remain at the number one position in India for 15 consecutive quarters.
In terms of new retail, Xiaomi's physical stores have experienced rapid expansion since 2020. The total number of Xiaomi stores in mainland China exceeded 5,500 by the end of April 2021, while there are more than 1,000 Xiaomi stores in the international market. Xiaomi's physical retail network is expanding rapidly around the world.
Xiaomi continues to invest in R&D and talent, creating a series of new reward structures for its R&D team and launching the second phase of the Xiaomi Smart Factory project. "Over the next decade, there will be a new driving force in Xiaomi's construction industry," Lei Jun said at the company's 10th anniversary. Smart manufacturing is going to be one of Xiaomi's main competitive advantages. ”
Leading the smartphone, AIOT, and smart manufacturing industries, Xiaomi has also entered the smart electric vehicle market. In March 2021, Xiaomi officially announced that it would set up a wholly-owned subsidiary, led by CEO Lei Jun, to run the smart electric vehicle business, with a total investment of 10 billion. The initial stage of investment will be RMB 10 billion. Smart electric vehicles will be a key driver of new growth for Xiaomi.
