Fortune Magazine included the Chinese tech giant, Xiaomi, at number 7 in the third edition of its Future 50 list, which highlights the companies with the strongest long-term growth potential. As can be seen, most of the companies on the list belong to the tech sector and include names such as Spotify at number 5, Tesla at number 48 and Alphabet (the parent company of Google) at number 5.
Xiaomi, the smartphone manufacturer, was ranked 7th on the latest Future list released by Fortune. The ranking, now in its third year, is a partnership between Fortune and BCG, a management consulting firm, showcasing the organization with the greatest potential for future growth.The first mobile of Xiaomi was released in 2011 and hasn’t looked back ever since. Forbes has an estimated 17,000 workers and gained $27.9 billion in revenue and $1.6 billion in profit in the last year alone.
Although 30% of the score of a company is based on market potential, the other 70% is based on its ability to deliver against that potential. One of the categories used to predict growth is the strategic orientation of the company, which is analyzed by an AI algorithm that Fortune says is based on the processing of natural language. “We also measure the sustainability commitment of an organization from its governance.
Since releasing its first smartphone in 2011, Xiaomi has developed into one of the tech industry’s largest companies, largely due to its impressive success in China and India. Nevertheless, as part of its ambitions to become a full-fledged consumer electronics player in the IoT era, the company has since entered several other product categories, introducing products such as TV, gaming consoles, MI products. The report revealed that the Chinese manufacturer Xiaomi was considered the most popular, highly user-friendly product, while the old-time Samsung player was favored by users as the “understanding my needs” brand.