China-based Xiaomi Corporation recentlymade it to the Fortunes Global 500 listfor the first time. The company is ranked at 468th position with a revenue of $26,443.50 million and a net profit of $2,049.10 million in the previous fiscal year.

The Chinese company also revealed that it is ranked at 7th position in the Internet Services and Retailing category. Also, Xiaomi is the youngest company in the Fortune Global 500 list for the year 2019.

In an open letter talking about this achievement, Lei Jun, Founder, Chairman and CEO of Xiaomi, appreciated the efforts of the employees and announced that theres a special gift for each of its 20,538 co-workers and members of the key external teams.

The company said that as a token of appreciation, each of those members will receive 1,000 shares of Xiaomi stocks. Of those 1,000 shares, 500 shares serve to celebrate the Global 500 achievement, while the remaining 500 are gifted to the family and loved ones of each coworker and partner for their support along the way.

Commenting about this achievement, Xiaomis Lei Jun said:This honor does not mark the end of our pursuit, but simply a new beginning. We remain committed to making amazing and highly innovative products at honest prices, as our philosophy states, in an effort to let our Mi Fans, users and investors enjoy a better life.

Xiaomi started operations in April 2010 as an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core. In just 9 years, the company has been named as one of the Fortune Global 500 companies. The company was also named in Fortunes China 500 list for the first time in June, securing the 53rd rank in the list.

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