Xiaomi Corporation announced 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 a 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.
As an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core founded in April 2010, Xiaomi was also named to Fortune’s China 500 list for the first time in June, ranking 53rd. The company reached RMB10,000 million (approx. US$1,453.72 million) threshold in sales revenue in 2012, and RMB100,000 million (approx. US$14,537.21 million) in 2017.
Xiaomi continues to demonstrate its healthy consumer brand equity and strong growth potential, thanks to the company’s unique and powerful “triathlon” business model, and the results of its dual-core strategy of “Smartphone + AIoT”.
“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.
