From China to the World... Xiaomi Climbs 84 Ranks in Fortune Global 500 Companies

2021 Fortune Global 500 Companies
Ranked 338th, Up 84 Places from 2020
This Year Again Surpassing Apple with Mi 10 and 11

[Asia Economy Reporter Cha Min-young] Chinese IT company Xiaomi secured the 338th position in the 2021 Fortune Global 500 list, rising 84 places from the previous year.

Xiaomi announced on the 3rd that it recorded total revenue of 245.9 billion yuan (approximately 42.6931 trillion KRW) in 2020, placing it 338th on the 2021 Fortune Global 500 list. Xiaomi Group also established itself as the fastest-growing company in the internet and retail sector among the 2021 Fortune Global 500 companies.

In 2021, Xiaomi continues to show explosive growth in both revenue and net profit. Xiaomi's total revenue for the first quarter of 2021 was 76.9 billion yuan (approximately 13.4652 trillion KRW), a 54.7% increase compared to the same period last year, and adjusted net profit was 6.1 billion yuan (approximately 1.0681 trillion KRW), up 163.8%.

Success in the premium smartphone market with the Mi 10 and Mi 11 series is driving sales. Xiaomi smartphone global shipments exceeded 4 million units in overseas markets in the first quarter of 2021. According to global market research firm Canalys, Xiaomi's smartphone shipment market share reached 17% in the second quarter of this year, surpassing Apple to become the world's second-largest.

Lei Jun, Xiaomi's CEO, said, "We focus more on growth potential than past achievements. Xiaomi is still young but an ambitious company full of enthusiasm," adding, "We sincerely thank fans worldwide who have energized Xiaomi with unwavering support. I believe this record is not the limit for Xiaomi."

Meanwhile, Xiaomi has identified smart electric vehicles as its next growth engine. It plans to invest more than 10 billion dollars (approximately 11.34 trillion KRW) over the next 10 years.

This content was produced with the assistance of AI translation services.