Xiaomi makes FUTURE 50 list for the first time
- Ranks 7th on the 2019 Future 50 List
- This signals outstanding prospects for the company’s long-term growth
Beijing, CHINA, October 23, 2019 – Xiaomi Corporation, (“Xiaomi”, Stock Code: 1810: Hong Kong) has made the 2019 Future 50 List for the first time. Ranking 7th, it demonstrates the company’s steady execution and forward-looking strategic nimbleness.
Created by global management consulting firm Boston Consulting Group and Fortune in 2017, Future 50 ranks global companies with the best prospects for long-term growth.
“Over the past year, we have made significant improvements and adjustments in our core strategies, management structures, technology research and development systems, product lineups, brand developments, and much more,” said Lei Jun, Founder, Chairman and CEO of Xiaomi. “These moves have empowered Xiaomi to continuously shine, even in the face of fierce competitions from domestic and international peers.”
The Future 50 honor follows another milestone in July, when for the first time, Xiaomi made the Fortune Global 500 list for 2019. The Beijing-headquartered company ranked 468th with a revenue of US$26,443.50 million and a net profit of US$2,049.10 million in the previous fiscal year. It also ranked 7th in the Internet Services and Retailing category. Xiaomi is the youngest company on the Global Fortune 500 list for 2019.
Demonstrating outstanding prospects for long-term growth
Xiaomi continues to show its healthy consumer brand equity and strong growth potential, thanks to the company’s unique and powerful “triathlon” business model which encompasses three synergistic pillars – hardware, new retail and internet services.
In January, Xiaomi further announced the dual-engine strategy of “Smartphone + AIoT” with RMB 10 billion investment in the next five years.
Xiaomi’s footprints are now present in more than 80 markets globally. According to Canalys, the company ranked 4th globally in terms of smartphone shipments during the second quarter of 2019, and ranked within top five in more than 40 markets.
Meanwhile, Xiaomi has the world’s largest consumer Internet of Things (IoT) platform, connecting 196 million smart devices (excluding smartphones and laptops) as of the end of June, representing a year-over-year increase of 69.5%.
Xiaomi Group will further enhance the development of AIoT technology, building a comprehensive AIoT ecosystem, strengthening research and development, and further developing synergies across business units to improve smart devices’ connectivity and user experiences.
By end of June 2019, Xiaomi had 16,911 full-time employees with a total of 7,779 research and development staff members across various departments.
Xiaomi has also invested in more than 270 companies, including 12 supply chain companies to strengthen its partnership with key components suppliers, and to enhance the company’s advanced technology sourcing and manufacturing abilities.
To identify the Future 50, Boston Consulting Group examined over 1,000 publicly traded companies with at least $20 billion in market value or $10 billion in revenue in the 12 months leading up to the end of 2018. The index is based on two pillars: a “top-down” market view of growth potential, and a “bottom up” assessment of a firm’s capacity to deliver growth. Four dimensions are focused to access capacity: strategy, technology and investments, people, and structure.
About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core.
With the vision of being friends with its users and being the “coolest company” in the hearts of its users, Xiaomi is committed to continuous innovation, with an unwavering focus on quality and efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technologies.
Xiaomi is currently the world’s fourth-largest smartphone brand, and has established the world’s largest consumer IoT platform, with more than 196 million smart devices connected to this platform, excluding smartphones and laptops. Currently, Xiaomi products are present in more than 80 countries and regions around the world and have a leading foothold in many of them.
In July 2019, Xiaomi for the first time made the Fortune Global 500 list, ranking 468th among all, and 7th in the Internet Services and Retailing category. It is also the youngest Global 500 company of 2019.