Xiaomi gets into Fortune Global 500 for the first time

by Airyl 169 views0

Xiaomi‘s been in the news non-stop these past few days. Be it announcing new devices or releasing questionable updates, they just can’t seem to stop being around. Today however, they’ve got something pretty big to tell everyone, and it’s quite the impressive story. Xiaomi, for the very first time, has managed to break in the Fortune Global 500 list at number 468.

For those not in the know, this is kind of a pretty big deal. The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue and the list is compiled and published annually by Fortune magazine. Xiaomi is now officially the 468th company in the world, quite the feat for a 9 year old company.

“It took Xiaomi only nine years to make the Fortune Global 500 list, a milestone that we owe a big thank you to all our Mi Fans and users for their unwavering support. We are also the youngest company on this year’s list, a proud record that we will keep in mind and bring to another level in the global expansion journey,” said Lei Jun, Founder, Chairman and CEO of Xiaomi.

As an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core founded in April 2010, Xiaomi was also named to Fortune’s China 500 list for the first time in June, ranking 53rd. The company reached RMB10,000 million (approx. US$1,453.72 million) threshold in sales revenue in 2012, and RMB100,000 million (approx. US$14,537.21 million) in 2017.

Of course, they’re still not even close to companies like Apple (11th) and Samsung (15th), but that’s fine. For them to break into the list at all is already a huge surprise. This is without a doubt a monumental achievement for the company, and it’s a testament to how well Xiaomi has done in such a short time. We’re eager to see how they’ll grow from here, and we wish them all the best for their future endeavors.