The famous Fortune magazine has just released the latest Fortune Global 500 list for the year 2020. Xiaomi Group has once again returned to the list of the 500 largest companies in the world, ranking in 422nd position. Compared to last year, the brand has risen by 46 positions.
Xiaomi once again in the Fortune Global 500, climbs 46 positions in the ranking
Following this news, Xiaomi founder and CEO Lei Jun stated on Weibo (the Chinese Twitter) that:
The good news: Xiaomi was once again selected in the Fortune Global 500, ranking 422, with an improvement of 46 places compared to last year.
"Fortune" believes that in the tenth year of its foundation, the Xiaomi model has successfully resisted the "risk strategy" and achieved rare growth in a context that has seen a slowdown in recent years.
Lei Jun
As mentioned above, this is not the first time that Xiaomi is on the Fortune Global 500 list. Last year, Xiaomi Group was ranked 468th and became the youngest Chinese company in the "Internet and technology" category.
According to the financial report for the first quarter of 2020 published by Xiaomi Group, the turnover for the quarter was 49,7 billion yuan, although with the current market, a turnover of 47 billion yuan was expected. In any case, compared to 43,757 billion yuan in the same period last year, there was an increase of 13,6%.
Xiaomi Group's net profit in the first quarter of 2020 was 2,163 billion yuan, with the market suggesting a profit of 1,600 billion yuan. Last year the brand had instead achieved a net profit of 3,126 billion yuan, so there was a drop in profits.
In the mobile phone business, although hit by the epidemic, sales volume in the first quarter nonetheless reached 29,2 million units, an increase of 4,7% year on year. Mobile phone segment revenue reached 30,3 billion yuan, up 12,3% year-on-year.
