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Xiaomi Rises Again on the Fortune Global 500 List

Xiaomi Group ranked No. 266 on the 2022 Fortune Global 500 list. The global technology company, which is the world’s third largest smartphone manufacturer, moved up the list for the fourth year in a row.

Xiaomi first appeared on the Fortune Global 500 list as No. 468 in 2019, just nine years after its founding. The fast-growing company has improved its ranking every year since – to 422 in 2020 and to 338 last year.

According to Fortune Magazine, Xiaomi has advanced more than 200 positions in four years, making it the fastest rising Chinese technology company.

Xiaomi’s revenue and adjusted net profit hit new highs in 2021. Total revenue of Xiaomi Group in 2021 reached RMB 328.3 billion, a year-on-year increase of 33.5%. Its adjusted net profit reached RMB 22 billion last year, a year-on-year increase of 69.5%. Xiaomi Group’s overseas-market revenue in 2021 increased by 33.7% year-on-year, accounting for 49.8% of its total revenue. In the first quarter of 2022, this proportion increased to 51.1%.

In South Africa, Xiaomi has been making waves this year, with the introduction of several smartphones into the market ranging from entry-level to flagship. These included Redmi Note 11 Series (Redmi Note 11 and Redmi Note 11 Pro), Redmi 10 2022, Redmi 10C, Redmi 10A, and Xiaomi 12. An increased focus on introducing its fans to the wide array of choices in its AIoT ecosystem is also driving the brand locally, along with planned releases of even more smartphones before the end of the year. All this, in order to bring advanced technologies to more consumers to help them live easier and more convenient lives.

Thanks to its “Smartphone × AIoT” strategy, Xiaomi’s global smartphone shipments hit a record high in 2021. Its AIoT products also expanded rapidly, building a rich product ecosystem around smartphones. According to Canalys, Xiaomi ranked third in the global smartphone industry with a market share of 14.1% in 2021. Xiaomi’s smartphone sales ranked first in 14 markets and was in the top five in 62 markets. As of December 31, 2021, more than 434 million smart devices were connected to its platform (excluding smartphones, tablets and laptops), a year-on-year increase of 33.6%. The number of its global MIUI monthly active users reached 509 million, a year-on-year increase of 28.4%.

In 2021, the share of Xiaomi’s high-end smartphone shipments increased to about 13% of its total smartphone shipments, nearly doubling from the previous year. Meanwhile, Xiaomi has continued to increase its investment in research. In 2021, Xiaomi’s 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, Xiaomi has been granted more than 26,000 patents; its global patent applications exceeded 53,000.

Going forward, Xiaomi is committed to building amazing products with honest prices so that everyone can enjoy a better life through innovative technology.

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