China Based Xiaomi Included in the Future 50 List

  • This list is published by global management consulting firm Boston Consulting Group and Fortune
  • The company had also made it to the Fortune Global 500 list this year

Xiaomi Corporation has been included in the 2019 Future 50 List. Ranking seven on this list, this is the first time that Xiaomi had been featured in it. This list was first created in 2017 by global management consulting firm Boston Consulting Group and Fortune.

“Over the past year, we have made significant improvements and adjustments in our core strategies, management structures, technology research and development systems, product lineups, brand developments, and much more. These moves have empowered Xiaomi to continuously shine, even in the face of fierce competitions from domestic and international peers, “said Lei Jun, Founder, Chairman and CEO of Xiaomi.

File Photo- Manu Kumar Jain and Lei Jun with Xiaomi Smartphone Vending Machine (Source -Twitter)

Sold 12 million devices in India during Diwali sales

The company had recently informed that it had sold 12 million devices in India during Diwali sales. Precisely between 28 September 2019 and 29 October 2019, Xiaomi was able to sell 8.5 million smartphones, 3.5 million ecosystem devices and around six lakh smart TVs among others.

As a matter of fact Xiaomi’s footprints are now present in more than 80 markets globally. According to Canalys, the company ranked fourth globally in terms of smartphone shipments during the second quarter of 2019, and ranked within top five in more than 40 markets.

By end of June 2019, Xiaomi had 16,911 full-time employees with a total of 7,779 research and development staff members across various departments. The company has also invested in more than 270 supply chain companies to strengthen its partnership with key components suppliers.

Smartphone + AIoT with RMB 10 billion investment

Xiaomi in January 2019, had announced investment worth RMB 10 million in its smartphone + AIoT strategy. The company informed that it has the world’s largest consumer Internet of Things (IoT) platform, connecting 196 million smart devices (excluding smartphones and laptops) as of the end of June, representing a year-over-year increase of 69.5 per cent.

“To identify the Future 50, Boston Consulting Group examined over 1,000 publicly traded companies with at least $20 billion in market value or $10 billion in revenue in the 12 months leading up to the end of 2018. The index is based on two pillars: a “top-down” market view of growth potential, and a “bottom up” assessment of a firm’s capacity to deliver growth. Four dimensions are focused to access capacity: strategy, technology and investments, people, and structure,” read Xiaomi’s official blog.