Xiaomi Aims to Become Top 500 Enterprise Company in 2018 with 100 Million Shipments Target

by Anvinraj Valiyathara 0

On Sunday, Xiaomi inaugurated its new “Mi Home” flagship store in Shenzhen. The newly unveiled two-storey Mi Home Shop expands over a huge space of 650 square meters. The company will be using this new store along with Mi Home stores in China to sell the full ceramic edition of the Xiaomi Mi MIX 2 smartphone. After the opening of the new Mi Home store, Xiaomi CEO Lei Jun expressed that the company aims to become a top 500 enterprise in the world by next year.

Xiaomi has reportedly shipped 70 million smartphones until October this year. By this, it has managed to complete its shipment target for 2017. Recent reports have revealed that company has revised its shipments target to 90 million phones in 2017. With rumored smartphones like Redmi 5, Redmi 5 Plus and Redmi Note 5 that are expected to launch before the end of the year, it seems that the company will be available to achieve it.

The Chinese firm has also completed its target of 100-billion-yuan sales for 2017. A recent IDC survey has revealed that the company is holding the fifth position in the worldwide smartphone rankings for Q3 2017. In the said quarter, it shipped 27.6 million handsets which has allowed the company to achieve a year-over-year growth of up to 102.6 percent. The market share of the company has also increased from 3.7 percent in Q3 2016 to 7.4 percent in Q3 2017.

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Now that the company is now on a remarkable streak, it has high plans for 2018. After unveiling the new store, Xiaomi CEO Lei Jun said to the Chinese media, “Xiaomi has an even bolder plan to become a top 500 enterprise in the world in 2018.” He also expects that the revenue of the company will surpass 1 trillion yuan in a decade.

Fortune Global 500 is the annual list of top 500 global companies compiled by Fortune Magazine features couple of Chinese companies. The Fortune Global 500 list for 2017 includes unprecedented number of115 companies from China. The list has China Mobile Communications ranking at 47 and Huawei Investment & Holding is placed at 83. The list includes other Chinese companies like Tencent Holdings, Alibaba Group Holding, and more. Going by the current progress of the company, it seems that it will make it to the Fortune 500 list.