Xiaomi advances positions in the list of the 500 most valuable companies in the world

The Chinese company continues to climb positions on the Fortune 500 list.

In 2019, Xiaomi it sneaked squarely into the list of the 500 most valuable companies in the world, occupying position 468 and becoming the youngest company to be included in the list. Now, in the middle of 2020, the beijing keep climbing positions.

Xiaomi itself has announced on its official blog that, in 2020, the firm has been ranked 422 on the Fortune list made up of the 500 most valuable companies on the planet.

Climbing occurs thanks to good results obtained by the company throughout the past year, with a net profit of 1,453 million dollars, an increase of 34.8% over the previous fiscal year.

Redmi Note 9 Pro, white back

Xiaomi continues to be one of the brands that sells the most mobile phones globally.

Xiaomi is still one of the most valuable companies in the world

Xiaomi’s climbing of positions in the Fortune 500 list occurs in the year in which the company celebrates its 10th anniversary.

In addition, we are talking about the same year that Xiaomi has managed to get the fourth position in the global top smartphone manufacturers based on the latest IDC data. Not bad considering that, in 2020, mobile sales suffered their biggest drop in 14 years.

Not many companies are capable of making the Fortune 500 list of the most valuable firms on the planet. The list, produced annually by Fortune magazine for 68 years, determines the value of the companies based on the financial results obtained in the previous fiscal year.

This year, the 500 companies generated close to 30,000,000,000,000 euros –33 “trillion” dollars– in revenue, and employ almost 70 million people around the world.

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