Xiaomi now ranked 338th under Fortune Global 500

Xiaomi has been previously placed before on Fortune’s Global 500, however in a recent report, the company has jumped 84 places from its previous 422nd rank, it’s now at 338th.

The company is the fastest-growing multinational electronics company. Xiaomi is still a “young and ambitious company that is motivated to realize its potential and growth”.

According to Fortune, the company has a market value of $87.6 million and has a revenue of about $35.6 million. The company employs about 20,000 people.

This ranking may also be the effect from its global smartphone market share standings, as according to IDC and Canalys, they are second, just behind Samsung, and also has an unbelievably fast Year-on-Year growth of around 80%. The company has also overtook Apple in smartphone market share, and was able to do so due to the absence of Huawei.

Source: Fortune