#kamisukareview – Xiaomi, a technology company with a variety of smart devices and the Internet of Things (IoT) to support lifestyles, was ranked 24th in the list of the 50 most innovative companies in the world in 2020 compiled by the Boston Consulting Group (BCG).
This is the third time Xiaomi entered the list after previously being ranked 35th in 2014 and 2016. As stated in a report from BCG entitled “The Most Innovative Companies 2020: The Serial Innovation Imperative”.
This report recognizes Xiaomi for its active efforts in cross-border industrial innovation through a series of new assessment categories to be able to illustrate the diversity and intensity of each company in crossing the line.
“In a world where every industry is transformed into a technology industry to a certain extent, the ability to produce innovations that cross borders like this becomes very important,” the report writes.
“These results are in line with our mission to ensure everyone in the world can enjoy a better life through technological innovation, something that has been recognized by Mi Fans and users in 90 countries where we are present,” said Shou Zi Chew, President of Xiaomi International .
“At this company, we embrace a culture of innovation that is resolute to continue to push the boundaries of what technology can offer. The spirit of innovation seeps into our company and guides our ongoing efforts to produce extraordinary products while breaking down the barriers of innovative technology, “Shou added.
The company is committed to investing at least 50 billion renminbi (or 100 trillion Rupiah) * over the next five years in the “5G + AIoT” strategy to ensure Xiaomi's leadership in “5G + AI + IoT” (5G + AIoT) and the next generation of super internet , furthermore to ensure the company's victory in this new smart era.
Xiaomi also continues to increase investment in research and development. In 2019, the investment spent will reach 7.5 billion renminbi (or equivalent to 15 trillion Rupiah) or grow 29.7 compared to the previous year (year on year) for a substantial expansion for the next three years.
In 2020, investment is estimated to increase to 10 billion renminbi (or 20 trillion Rupiah equivalent). As of March 31, 2020, the number of personnel involved in research and development totaled 8,984 and spread across various departments and accounted for 48.6 percent of all full-time employees.
Xiaomi's patent portfolio covers many fields relating to smartphones, smart devices, internet technology, as well as product design and manufacturing. As of December 31, 2019, Xiaomi already had more than 14,000 patents awarded and more than 16,000 pending patents worldwide.
Among those granted, more than 6,500 patents have been registered in various countries and jurisdictions abroad. Xiaomi twice entered the list of 50 most innovative companies in 2014 and 2016 ranked 35th for the two occasions.