Xiaomi ranked 24th under the World's 50 most innovative companies of 2020.

Source: mi.com

In China June 23,2020 Xiaomi is ranked at 24 among the 50 most world's innovative companies of 2020. It is to be noted that this is the third time that the company has entered in the list. Earlier the company twice ranked as 35th respectively among the 50 most innovative companies of 2014 and 2016,  according to the latest report by Boston Consulting Group (BCG).The report said that " In this world every industry is striving to become a technological industry, but the kind of boundary - busting innovation is really important."

Shou Zi Chew , The International President of Xiaomi said that," This result is in tandem with our mission of letting everyone in the world enjoy a better life through innovative technology , this has been widely recognized by our Mi fans and users around the world where we are present." He also added that, " In this company we encourage the culture of being innovative to push the boundaries of what the technology can offer. This innovative spirit encourages and guides us to build some useful amazing products , while breaking down the barrier of innovative technologies."

It seems that the company has invested about 50 billion Yuan ( roughly about 534 billion Rs/-) over the next five years in "5G+AIoT" (Artificial Intelligence of Things) to get doubled in it's lead in the next generation Super Internet. The company has also increased it's investment in it's R&D (Research & Development) area. In 2019 the company had invested about 7.5 billion Yuan ( roughly about 80 billion Rs /- ). In 2020 the company's investment is expected to increase to 10 billion Yuan ( roughly about 106 billion Rs /- ). As of March 31,2020 ,the R&D personnel, totaling 8,984 were staffed across various departments , accounting for 48.6% of all full-time employees.

Xiaomi's patent portfolio also increases in the smartphones, smart hardware, internet technologies, manufacturing and product design areas. According to the reports, as of December 31,2019 , Xiaomi held over 14,000 granted patents and over 16,000 pending patent applications worldwide. Among the granted ones, over 6,500 patents were registered across worldwide.