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Xiaomi Becomes Youngest Company on Fortune Global 500 List for 2019

The company also ranks seventh in the Internet Services and Retailing category, the company said in a statement

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Xiaomi, Fortune Global, Company
The Beijing-based global technology firm on Monday announced that the company has, for the first time, made the Fortune Global 500 list, nine years after its iteration. Pixabay

Chinese smartphone manufacturer Xiaomi has become the youngest company on the Fortune Global 500 list for 2019, ranking 468, with a revenue of $26,443.50 million and a net profit of $2,049.10 million in the previous fiscal.

The Beijing-based global technology firm on Monday announced that the company has, for the first time, made the Fortune Global 500 list, nine years after its iteration.

The company also ranks seventh in the Internet Services and Retailing category, the company said in a statement.

“It took Xiaomi only nine years to make the Fortune Global 500 list, a milestone that we owe a big thank you to all our Mi fans and users for their unwavering support. We are also the youngest company on this year’s list, a proud record that we will keep in mind and bring to another level in the global expansion journey,” Lei Jun, Founder, Chairman and CEO of Xiaomi said.

Xiaomi, Fortune Global, Company
Chinese smartphone manufacturer Xiaomi has become the youngest company on the Fortune Global 500 list for 2019, ranking 468. Pixabay

Founded in April 2010 as an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, Xiaomi was also named in Fortune’s China 500 list for the first time in June, ranking 53rd.

According to international market research organisation IDC, as of March 2019, the company has become the world’s fourth smartphone brand in terms of shipment sales volume, registering a year-on-year growth of 32.2 per cent.

The company has also incubated and invested in over 200 ecosystem companies, many of which are specialized in developing smart hardware, and has thus built the world’s largest consumer IoT platform with approximately 171 million connected IoT devices, excluding smartphones and laptops, by late March 2019.

The firm is investing 10 billion Renminbi in the development of “All in AIoT” in the next five years as part of its “Smartphone+AIoT” dual-core strategy, allowing the prospect to capitalize on Artificial Intelligence (AI) and IoT development opportunities in the future, and laying a solid foundation for the growth over the next five to 10 years.

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Moreover, the company is planning to replicate its success by enhancing and adjusting its business strategies from China to overseas. (IANS)

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Redmi 7A: Decent Buy in its Price Segment (Tech Review)

Conclusion: The Redmi 7A is a decent proposition for first-time Android users

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Xiaomi
Xiaomi.

Xiaomi has been able to successfully woo the budget-conscious Indian buyers and this time, the Chinese handset maker has forayed into the entry-level segment with its new launch — the Redmi 7A — that comes in two variants.

The 2GB RAM and 16GB storage version was launched at an introductory price of Rs 5,799 while the 2GB RAM and 32GB storage variant was launched for Rs 5,999, in matte blue, black and gold colours.

We used the 2GB RAM+16GB storage variant for around two weeks. Here’s our review.

With a 5.45-inch HD screen, the device looks decent; the polycarbonate body is covered with a layer to protect from accidental splashes.

Powered by a Qualcomm Snapdragon 439 processor and fuelled by a 4000mAh battery, the smartphone lasted almost two days on a single charge.

There’s a 12MP primary camera and a 5MP front camera that make it a value buy for first time smartphone users.

The power and volume buttons are placed on the right side of the device while the SIM tray and SD cards slot is housed on the left.

Xiaomi
Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India.

The storage capacity of the handset can be increased up to 256GB via a microSD card slot.

A standard headphone jack is placed at the top while a micro-USB charging point is placed at the bottom.

The capacity of the speakers was good enough to alert amid mild disturbance.

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Talking about the downsides of the device, we experienced some delay while switching between apps, especially when some of them were running in the background.

Low-light imaging is likely to disappoint most users.

Conclusion: The Redmi 7A is a decent proposition for first-time Android users. (IANS)