Xiaomi continues to rise on the Fortune Global 500 list

Xiaomi Group continues to climb the Fortune Global 500 list as it is now ranked number 266 in 2022. This is a huge jump from 2021's rank of 338.

Xiaomi is now ranked # 266 on the Fortune Global 500 list

Xiaomi is now ranked 266 in the 2022 Fortune Global 500

File photo: Xiaomi 11T series

Xiaomi Group just continues to climb up the ranks of Fortune Global 500 yearly. It ranked 468th in 2019, 422nd in 2020, and 338th in 2021. It became the fastest-rising Chinese technology company since it entered the Fortune Global 500 List in 2019 and has moved up more than 200 positions in just four years, according to Fortune Magazine.

In 2021, Xiaomi's revenue and adjusted net profit both reached new highs. The Xiaomi Group's total revenue in 2021 increased by 33.5 percent year over year to CNY 328.3 billion. Its adjusted net profit last year was CNY 22 billion, up 69.5 percent from the previous year. In 2021, Xiaomi Group's sales from international markets climbed by 313.7 percent year over year, making about 49.8 percent of its overall revenue. By the first quarter of 2022, this percentage had risen to 51.1 percent.

Xiaomi's global smartphone shipments reached a record high in 2021 as a result of its "Smartphone x AIoT" strategy. Additionally, its AIoT products grew quickly, creating a robust product ecosystem centered around smartphones. Xiaomi ranked third in the world's smartphone market in 2021, according to Canalys, with a market share of 14.1 percent. Sales of its smartphones were in the top five in 62 markets and ranked first in 14 markets. 

More than 434 million smart devices, apart from smartphones, tablets, and laptops, were linked to its platform as of December 31, 2021, an increase of 33.6 percent from the previous year. The number of its monthly active users worldwide increased by 28.4 percent year over year to 509 million.

The percentage of high-end smartphone shipments from Xiaomi rose to roughly 13 percent of its overall smartphone shipments in 2021, nearly doubling from the year before. Xiaomi has kept up the pace of increasing its research spending. Xiaomi spent CNY 13.2 billion on R&D in 2021, up 42.3 percent from the previous year.

Xiaomi plans to invest more than CNY 100 billion in research over the next five years. As of March 31, 2022, Xiaomi had more than 26,000 patents that had been approved, and it had filed more than 53,000 patent applications worldwide.

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