Following the 2022 Fortune Global 500 list announced today, Xiaomi Group, which is the world’s third largest smartphone manufacturer is ranked No. 266, moving the company up the list for the fourth year in a row.
Just nine years after its founding, Xiaomi debuted at No. 468 on the Fortune Global 500 list in 2019. Since then, the company has risen in the rankings, moving from 422 in 2020 to 338 last year, making it the fastest-growing Chinese technology company.
In 2021, Xiaomi’s revenue and adjusted net profit reached new highs. Xiaomi Group’s total revenue in 2021 was RMB 328.3 billion, a 33.5% increase year on year. Its adjusted net profit was RMB 22 billion last year, up 69.5% year on year. In addition, Xiaomi Group’s revenue from overseas markets increased by 33.7% year on year in 2021, making up 49.8% of total revenue. This proportion increased to 51.1% in the first quarter of 2022.
Moreover, Xiaomi’s global smartphone shipments reached a record high in 2021 thanks to its “Smartphone AIoT” strategy. Its smartphone sales ranked first in 14 markets and fifth in 62 others. More than 434 million smart devices (excluding smartphones, tablets, and laptops) were connected to its platform as of December 31, 2021. The number of its global MIUI monthly active users reached 509 million, a 28.4% increase year on year.
Xiaomi’s high-end smartphone shipments increased to roughly 13% of total smartphone shipments in 2021, nearly doubling from the previous year. Meanwhile, Xiaomi has increased its research and development spending. Xiaomi’s R&D expenditure in 2021 was RMB 13.2 billion, a 42.3% increase year on year. Xiaomi’s research investment is expected to surpass RMB 100 billion over the next five years. As of March 31, 2022, Xiaomi had been granted over 26,000 patents, with over 53,000 global patent applications.
With these impressive achievements, users can rest assured that Xiaomi will continue to develop innovative products at a reasonable price so that users can enjoy a better experience of technology.
