The designation in part recognizes Xiaomi’s commitment to pursuing technological innovation and to strengthening its research and development capabilities. In the second quarter of 2022, its research and development expenses reached RMB3.8 billion, an increase of 22.8 percent year-over-year. At the Xiaomi product launch event in August, Lei Jun, Founder, Chairman and CEO of Xiaomi Group, said that Xiaomi’s R&D investment has grown at a compound annual growth rate of 39.7 percent since 2017 and is expected to reach RMB17 billion in 2022 and RMB100 billion in the next five years.
BCG’s Most Innovative Companies ranking is based in large part on a survey of more than 1,500 global innovation executives who were polled in December 2021 and January 2022. It assesses a company’s performance in four categories: global mindshare, industry peer view, industry disruption and value creation.
BCG has published its annual innovation report since 2003. Other companies on the 2022 list include Microsoft, Alphabet, IBM, Pfizer, Coca-Cola, Tencent, etc.
Xiaomi is building an ever-expanding technology ecosphere spanning smartphones, wearable devices, smart home, smart manufacturing, smart electric vehicles and bionic robots, to better connect people to the world around them and improve their lives.
Xiaomi Corporation (“Xiaomi”) was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.
Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.
According to Canalys, the company’s market share in terms of smartphone shipments ranked No. 3 globally in the second quarter of 2022. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 526.9 million smart devices connected to its platform as of June 30, 2022, excluding smartphones, tablets and laptops. Xiaomi products are available in more than 100 countries and regions around the world. In August 2022, the company made the Fortune Global 500 list for the fourth time, ranking 266th, up 72 places compared to 2021.
Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.