Congratulation to Xiaomi Corporation! The company announced yesterday that it ranked 422nd on the Fortune Global 500 list for 2020.

This marks the second year in a row that the world technology leader remains on the list. For 2019, Xiaomi was the youngest company on the list, ranked No. 468. Ranking 422nd, Xiaomi Corporation has revenues of US$ 29,795 billion (RM 125 billion) and net profit of US$ 1,453 billion (RM 6 billion) in the previous fiscal year, up 34.8% year-on-year. The firm retains its ranking in the category Internet Services and Retailing at No. 7.

“This year marks the 10th anniversary of Xiaomi’s foundation. Looking back at the past decade, Xiaomi would not have achieved the success it enjoys today without the cordial and unwavering support from our nearly 19,000 colleagues worldwide, Mi Fans, users, business partners and friends,” said Lei Jun, Founder, Chairman and CEO of Xiaomi.

As an internet company with smartphones and smart hardware connected to its core Internet of Things ( IoT) platform founded in April 2010, Xiaomi was also named to Fortune’s China 500 list again in July, ranking 15th, up three slots from last year’s 53. Boston Consulting Group ranks No. 24 among the 50 most innovative companies in the world in 2020, and No. 384 on Forbes’ Global 2000 list for 2020.

Thanks to the unique “triathlon” business model of the company, and the results of its precursor position in the 5G era, Xiaomi continues to demonstrate its healthy consumer brand equity and strong growth potential.

As of June 2020, Xiaomi remained the 4th smartphone brand in the world in terms of shipment sales volume, according to international market research organisation IDC. According to IDC, as of the second quarter of 2020, Xiaomi had been the largest smartphone brand in India by shipments for the 12th consecutive quarter, or a 29.4% market share.

Xiaomi is also dedicated to building and expanding its highly efficient new retail network in the overseas markets, incorporating both online and offline channels. As of June 30 , 2019, 520 authorised Mi Home stores were found overseas, representing a growth of 92.6 per cent year-on-year.

For the year 2020, the world’s 500 biggest companies generated revenues of US$ 33.3 trillion (RM 140 trillion) and profits of US$ 2.1 trillion (RM 9 trillion) in 2019. The companies together employ 69.6 million people worldwide this year and are represented by 32 countries and regions.

Visit Xiaomi’s official blog for more info.