IoT Mobile devices

Xiaomi celebrates 2019 Fortune 500 list ranking; gives workers gifts of company shares

Xiaomi has made it into the 2019 Fortune 500 list for the first time. The company was ranked at no. 468 on the list, one of seven to be included from the Internet Services and Retailing category. Founded in 2013, Xiaomi is the youngest company to be included in this year’s list, except for companies established through mergers.

The company reported revenue of US$26,443.50 million and a net profit of US$2,049.10 million in the previous fiscal year and is present in over 80 markets globally.

According to analyst firm, IDC, Xiaomi had become the world’s 4th smartphone brand in terms of shipment sales volume. The year-on-year growth was registered at 32.2%. The company has invested heavily in developing smart hardware building the world’s largest consumer IoT platform with an estimated 171 million connected IoT devices, as of March 2019.

The company has announced that to show its appreciation to its 20,538 coworkers and key external teams that they will each receive 1,000 shares of Xiaomi stocks. 500 shares are to serve to celebrate the company’s Global 500 achievement, and the remaining 500 are to be gifted to the family and loved ones of each coworker and partner for their support along the way.

Lei Jun, Founder, Chairman and CEO of Xiaomi, said in an open letter, “As the youngest company on the Global 500 list, we have demonstrated our strength and determination, and have ranked among the top tier in the global business world. Being young is how we differentiate ourselves. With this same spirit, I encourage all employees to constantly embrace the endless possibilities that lie ahead of us. Our vision to be a great company is built on our past successes, testifying to our unfailing commitment through strategic positioning and our ability to continuously making technological breakthroughs and advancements.”