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Chinese smartphone maker Xiaomi sees its self for the third consecutive year on the Fortune Global 500 list. The tech giant rises to 338th position in 2021, which is 84 places higher compared to its ranking of 422nd in 2020. This makes Xiaomi the fastest-growing company in the Internet and Retail Category on the Fortune Global 500 list of the year.
“Compared to our past achievements, I’m more focused on our potential growth. Xiaomi is still a very young yet ambitious company, full of motivation. I’d like to sincerely thank our Xiaomi Fans around the world as your unwavering support has helped made Xiaomi so lively and energetic. I think that this is not the limit for Xiaomi, and I am confident that people will see an even stronger, more powerful Xiaomi in the future, and we will achieve a much more outstanding record in the Fortune Global 500 list next year,” - Lei Jun, Founder, Chairman, and CEO of Xiaomi.
Xiaomi’s total revenue of RMB245.9 billion (over $38 billion) in 2020 helped secure 338th place in the Fortune Global 500 list of 2021. The company has continued to report rapid growth in revenue and net profit, exceeding the market expectations in 2021 as well. Just recently in the second quarter of 2021, Xiaomi overtook Apple as the worlds’ second-largest smartphone vendor with a 17% market share compared to 14% of Apple.
Talking about the Fortune Global 500 list, 135 Chinese companies from mainland China were listed on the Global 500 ranking. Giant tech companies like Apple, Samsung, and Google’s parent company Alphabet were in 6th, 15th, and 21st positions on the list respectively. On the number one spot of the Fortune Global 500 2021 was the retail giant Walmart.
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