Xiaomi received the Best Brands Russia award in the category of “Best Growth Brand” on Apr. 9 in Moscow.
Xiaomi was recognized for its strong growth throughout 2018. The company recorded a strong revenue of approximately 174.9 billion yuan ($26 billion), representing a year-on-year increase of 52.6 percent. Its net profit for 2018 was approximately $2 billion.
SEE ALSO: Xiaomi Tops Q3 Global Wearable Shipments
This is the first Best Brands event to be held in Russia. The prize is also awarded annually in China, Italy, Belgium and France.
According to the Best Brands website, winners are chosen solely by consumers and not by a panel of judges. Award-winning candidates are determined based on studies conducted by GfK consumer research institute based on actual economic success in the market place and the perceived popularity of the brand among consumers.
Xiaomi’s latest mobile launch is the Black Shark 2, a gaming smartphone priced around $400. The smartphone was launched in March 2019 and sports a 6.39-inch touchscreen display with a 1080×2340 resolution at a PPI of 403 pixels per inch.
Best Brands award was established in Germany in 2004 by Serviceplan Communication Group and GfK research company. In 2019 it debuted in Russia. The Best Brands gala in Germany is held each year in February with more than 600 invited guests from the worlds of business, retail and media attending the event.
Featured photo credit to Xiaomi