Xiaomi enters Boston Consulting Group's "50 Most Innovative Companies of 2022"

The Boston Consulting Group placed Xiaomi among its "50 Most Innovative Companies of 2022" list. Read on for more information!

Xiaomi is included in BGC's most innovative companies of 2022

BGC: Xiaomi is one of the 50 most innovative companies of 2022

Xiaomi's dedication to pursuing technical innovation and enhancing its research and development capabilities is in part recognized by the designation. Its research and development costs rose by 22.8 percent YoY to CNY 3.8 billion (around PHP 31.3 billion) in Q2 2022.

Lei Jun, the founder, chairman, and CEO of Xiaomi Group stated at the Xiaomi product launch event in August that Xiaomi's R&D investment has increased at a compound annual growth rate of 39.7 percent since 2017 and is anticipated to reach RMB 17 billion (around PHP 140 billion) in 2022 and RMB 100 billion (around PHP 822 billion) in the following five years.

More than 1,500 worldwide innovation executives were asked in December 2021 and January 2022 for a survey that formed the basis of a substantial portion of BCG's list of the Most Innovative Companies. It evaluates a company's performance in four areas: industry disruption, global mindshare, industry peer view, and value creation.

In order to improve people's lives and link them to the world around them, Xiaomi is creating an ever-expanding technology ecosphere that includes smartphones, wearable technology, smart homes, smart manufacturing, smart electric vehicles, and bionic robots.

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