Xiaomi was placed 24th in the list of the most innovative companies in the world, and to be honest, we have seen many interesting innovations from the Chinese company in recent years.
“Xiaomi was ranked 24th for its efforts to push the boundaries of innovation. This is the third time the company has made the BCG top, having previously ranked 35th in 2014 and 2016.
Bucharest, Romania, June 24, 2020 – Global technology leader Xiaomi has been ranked 24th among the most innovative global companies in 2020, thus returning to the list, according to the latest Boston Consulting Group (BCG) report.
The BCG report "The Most Innovative Companies 2020: The Serial Innovation Imperative" recognizes Xiaomi for its active innovation efforts in several industries, based on a new scoring method that analyzes the variety and intensity of innovations brought
According to the report "in a world where every industry is becoming, to some extent, a tech industry, this kind of approach that challenges the limits of innovation becomes a key capability for a company"
"This result is consistent with our mission to make cutting-edge technology accessible to all people, so that they can enjoy a better life through technology innovations. It is an effort widely recognized by MI fans and our users in over 90 markets around the world where we are present,” said Shou Zi Chew, International President, Xiaomi.
At Xiaomi, we embrace a culture of bold innovation to push the boundaries of what technology can deliver. In our company, there is a spirit of innovation that guides us in our efforts to create amazing products to bring innovative technologies to people," added Shou.
Xiaomi commits to invest at least 50 billion RMB (~7 billion USD) in the next five years in "5G+AIoT" to strengthen its competitive advantage in the field of "5G+AI+IoT" (5G+AIoT) and in the next generation of super internet, and to ensure its leading position in the new era of smart internet.
The company has also continuously increased its investment in research and development (R&D). In 2019, the company's R&D investment reached RMB 7,5 billion, an increase of 29,7% over the previous year, amid the company's substantial expansion in the past 3 years. In 2020, the investment is expected to increase to RMB 10 billion. As of March 31, 2020, the research and development team, consisting of 8.984 specialists, was divided into different departments, representing 48,6% of the total full-time employees.
Xiaomi's patent portfolio covers many areas in the sphere of smartphones, smart hardware, internet technologies, device manufacturing and design. As of December 31, 2019, the company had more than 14.000 granted patents and more than 16.000 pending patent applications. Among those granted, more than 6.500 patents were registered in different countries where the company is present.
This is the third time that Xiaomi has reached the BCG ranking. The company was ranked 35th in the top 50 most innovative companies in the world in 2014 and 2016."
