Xiaomi secures spot in Forbes' 2019 Global 2000

China's Xiaomi Corp. has been included in the prestigious Forbes' 2019 Global 2000 for the first time, marking its competitiveness in the global market. 

Xiaomi Founder Lei Jun, photo credit: Vulcan Post

Number 426!

Based on Forbes, Xiaomi ranked 426th under The World's Largest Public Companies list given its solid financial performance.

Thanks to the Group’s unique and powerful "triathlon" business model, Xiaomi enjoyed a strong 2018, even in the face of fierce competition from domestic and international peers. In 2019, Xiaomi officially launched the "smartphone + AIoTP" dual-core strategy, which the Group believes will provide more opportunities for AIoT in the future and help Xiaomi reach its full potential.

Xiaomi makes it to Forbes' List

As reported in March, Xiaomi's adjusted profit soared 59.5 percent to RMB 8.6 billion or about P67.52 billion. 

Its topline also climbed by 52.6 percent to RMB 174.9 billion amid strong performance in international markets, which posted RMB 70 billion in revenues or a 118.1 percent increase year-on-year.

Xiaomi's smartphone business also gained traction, posting 41.3 percent growth to RMB 113.8 billion, despite the decline in sales witnessed by the market in 2018.

The firm's internet services, on the other hand, also grew by 61.2 percent in revenues to RMB 16 billion. Its revenues from Intelligence of Things and lifestyle products also posted growth, ending 2018 with RMB 43.8 billion or 87 percent growth from a year prior.

Having your brand on the Forbes' list should be considered as an achievement as it is " one of the world’s most authoritative and closely-watched corporate rankings, and is based on the integrated rating of revenue, profit, assets and market capitalization."

The top 10 groups on the list include: ICBC, JP Morgan Chase, China Construction Bank, Agricultural Bank of China, Bank of America, Apple, Ping An, Bank of China, Royal Dutch Shell and Wells Fargo.

Source: Xiaomi