On October 12, 2020, Hurun Research Institute released the ‘2020 Hurun China Top 10 Consumer Electronics Companies’. Xiaomi ranked second with a value of 434 billion yuan ($64.4 million), surpassing VIVO, OPPO, Lenovo, etc. This is the first time the Hurun Research Institute has released the list. The scope of the survey only includes private technology companies in mainland China, where consumer electronics products account for more than 50% of total revenue.
The market value of listed companies is calculated based on the closing price on September 30, 2020. The valuation of non-listed companies refers to the publicly available, latest round of financing valuation, or to the valuation of similar listed companies. Consumer electronics refers to electronic products used by consumers in their daily lives, mainly referring to smartphones and various wearable devices. In addition, the list does not include Gree, Midea, Haier and other traditional household appliances companies.
Hurun Report’s Chairman and Chief Research Officer Hurun told that China’s leading consumer electronics brands were the most recognized Chinese brands overseas, especially Huawei, Xiaomi, VIVO, OPPO, Lenovo, and the best-selling smartphones in Africa. The first release of ‘2020 Hurun China Top 10 Consumer Electronics Companies’ pays more attention to the actual value of the company rather than sales.
Hu Run told, that today is an era of value creation. The consumer electronics industry has created the world’s highest market capitalization company Apple. The consumer electronics industry still has great development opportunities under the blessing of 5G. For example, Lenovo Group had revenue of 360 billion ($53.4 million) last year. So it had only 54 billion ($8.1 million) in value creation. Xiaomi’s 434 billion ($64.4 million) is worth 8 Lenovos. The value of DJI’s innovation is already 2 Lenovos. TRANSSION smartphones that sell well in Africa are worth both. It has surpassed Lenovo.
As the only listed company among the top five companies on the list, Xiaomi Group is the fourth largest smartphone brand in the world. At the same time, it has established the world’s leading consumer-grade IoT platform. The number of connected devices on the IoT platform has reached 271 million. This is without smartphones and laptops.
At present, the business of Xiaomi Group has entered more than 90 countries and markets around the world. It becomes a constituent stock of the Hang Seng Index, Hang Seng China Enterprises Index and Hang Seng Technology Index. As of the close on October 9, Xiaomi’s market value has exceeded 500 billion Hong Kong dollars.