Xiaomi Group was ranked 266th on the 2022 Fortune Global 500 list, which was released today. For the fourth year in a row, the global technology company, which is the world’s third largest smartphone manufacturer, climbed the list.

Xiaomi debuted at No. 468 on the Fortune Global 500 list in 2019, only nine years after its inception. Since then, the fast-growing company has risen in the rankings, reaching 422 in 2020 and 338 last year.

According to Fortune Magazine, Xiaomi, which debuted on the Fortune Global 500 List in 2019, has risen more than 200 positions in four years, making it the fastest-growing Chinese technology company.

In 2021, Xiaomi’s revenue and adjusted net profit both reached new highs. Xiaomi Group’s total revenue in 2021 reached RMB 328.3 billion, a 33.5 percent increase year on year. Last year, its adjusted net profit was RMB 22 billion, a 69.5 percent increase year on year. Xiaomi Group’s revenue from overseas markets increased 33.7 percent year on year in 2021, accounting for 49.8 percent of total revenue. This proportion grew to 51.1 percent in the first quarter of 2022.

Xiaomi’s global smartphone shipments will set a new high in 2021 thanks to its “Smartphone AIoT” strategy. Its AIoT products grew quickly as well, creating a robust product ecosystem centred on smartphones. According to Canalys, Xiaomi will be ranked third in the global smartphone industry in 2021, with a 14.1 percent market share. Its smartphone sales were first in 14 markets and fifth in 62. More than 434 million smart devices (excluding smartphones, tablets, and laptops) were connected to its platform as of December 31, 2021, representing a 33.6 percent increase year on year. Its global MIUI monthly active users increased by 28.4 percent year on year to 509 million.

Xiaomi’s high-end smartphone shipments increased to roughly 13% of total smartphone shipments in 2021, nearly doubling from the previous year. Meanwhile, Xiaomi has increased its research and development spending. Xiaomi’s R&D expenditure in 2021 was RMB 13.2 billion, a 42.3 percent increase year on year. Xiaomi’s research investment is expected to exceed RMB 100 billion over the next five years. As of March 31, 2022, Xiaomi had been granted over 26,000 patents, with over 53,000 global patent applications.

Moving forward, Xiaomi is committed to creating incredible products at reasonable prices so that everyone can live a better life through innovative technology.

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