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Xiaomi ranked 10th among the largest internet companies in China

A couple of days ago, the China Internet Society together with the Ministry of Industry and Information Technology published a list of the top 100 of the best Chinese companies on the Internet this year. Xiaomi is the tenth largest company in China, it is proud to reach the top 10 as it is a company that in recent years has strived to produce high-quality products and durability.

Revenues from online companies have increased 50.6% this year

Xiaomi ranked 10th among the largest internet companies in China

Undoubtedly this is an achievement for Xiaomi, in the list participate stores like Alibaba, Tencent, Baidu, Jingdong, NetEase, Sina, Sohu, Meituan Comments, Sanliu, among many others.

According to the data collected in 2017, the market for virtual stores among the 100 Internet companies managed to reach a total of 1.72 trillion yuan, the equivalent to 252 billion dollars (more than 17.301 trillion INR), now they have managed to increase business income by 50.6% via online in relation to this year. The operating profit had an increase of 82.6%, equivalent to more than 40 billion dollars (approximately 2.746 trillion INR).

According to the information, 83 companies generated profitability, and 11 of these companies generated a profit margin of at least 40%. The revenues of Alibaba and Tencent, the 2 leaders on this list, are responsible for more than 25% of the total revenues of the 100 largest Internet companies. In addition, the operating profits of these 2 giants represent 60% of the operating profits of the 100 leading companies.

The investment of the 100 largest companies in China exceeded 15 billion dollars, being Xiaomi part of this list thanks to its confidence in the scope of its products through its online stores.

Source: gizchina

Read more: The new update of the Xiaomi Mi 8 is removed due to a bug

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