Xiaomi: The Forbes Magazine annually publishes a list of top 500 globally ranking countries. For 2020, 135 Brands were from China. That is a really high number for just one country. And of course out of those 135 Countries, Xiaomi is among them.
Xiaomi has made the Fortune list now for the third consecutive year. It was widely covered news when it first made the list for 2017. It was a pretty new brand to globally expand at the time. Now it is good to see that they are climbing higher on the spot and have managed to stay there in the list, gradually increasing their fan and follower base, globally opening up more, focusing on the community and customers and getting prices right. These have helped a lot.
According to the previous Forbes list, Xiaomi was ranked 422 in 2019. Now they have managed to move up by 84 places, overtaking several companies in the process. You don’t usually see this kind of growth. Xiaomi has also recently surpassed Apple to become the world’s second largest shipper of smartphones (behind only Samsung), but they seem to be closing the gap and might even overtake Samsung. Both Canalys and IDC and other reports have confirmed this news. The margin by which Samsung leads is slowly reducing.
Most of Xiaomi’s growth is due to customer friendly, pocket friendly and practical pricing, insane hardware for the price, excellent price to performance ratios and overall community and customer focused approach.
Xiaomi has moved up 84 places. How?
We are not saying that Xiaomi’s growth is only due to the smartphones, but majority of the growth is definitely due to them. They make a whole wide list of products, just like Samsung, that makes a lot of products besides smartphones.
Xiaomi also makes a lot of good products like Electric TVs, Electric Toothbrushes, Home Cleaning Robots, Smart Accessories and Gadgets, Electric Kettles, Electric Scooters, etc. But they are primarily known for smartphones.
Fortune Ranking is not just based on smartphones but is an overall measure that is based on multiple criteria and it includes the company and its products and profit margins on a whole.
Comparing the previous list and this one, Xiaomi has impressively managed to double its profit margin and also saw a whopping 19.6% increase in revenue.
The top smartphone maker, according to the Forbes list still remains Apple and will mostly remain at that place for years to come(Focusing on only smartphones).
Walmart is ranked number one. “State Grid” is ranked number two. Amazon is ranked third. Those are the top three.
Apple is ranked sixth place (Considering ever product, not just iPhones). Samsung is in fifteenth place. Subsidiary of Google, Alphabet is in twenty first place. Sony is ranked #86 but we all know that is definitely not due to its smartphone sales.
We will leave the link of the official list from Forbes if you want to check it out here. Other brands like Toyota Motors, Volkswagen, T Mobile, AT & T, Foxconn, Verizon, China mobile, etc are somewhere on the list, along with other automobile and petroleum companies and financial companies and car makers but this post only focuses on smartphone brands.
Xiaomi is doing really well in 2021 and it is an impressive feat to knock off Apple from second position and then take their place in terms of global smartphone shipments. And Xiaomi is definitely not done yet. Their 2021 Foldable is yet to come, their Mi Pad 5 and Mi Mix and another Mi CC are yet to come and their second flagship for the year are also yet to launch. Their laptop lineup for this year might be pretty successful. A lot of premium midrange phones and flagship killers are also not yet launched or announced for 2021. Their MIUI 13 software is also something exciting to look forward to.
So Xiaomi might even surpass Samsung. Or it will significantly climb higher in ranks in the coming years.
With that being said, let us know what you think of this news down below. Drop a comment. Do you think Xiaomi will lead the shipments in the coming years?
Thank you for reading.