Xiaomi had been around for quite some time and it is also known as the second-largest smartphone maker company all over the world only next to apply but that is not the case anymore. Xiaomi had a 17% share of global smartphone shipments, ahead of Apple’s 14% and behind Samsung’s 19%.
Xiaomi Takes Over Apple in World Market
“Xiaomi is growing its overseas business rapidly,” Canalys Research Manager Ben Stanton said in a press release, noting shipments increased 300% year-on-year in Latin America and 50% in Western Europe.
Smartphone Shipment Growth
The Chinese smartphone maker posted year-on-year smartphone shipment growth of 83% versus 15% for Samsung and 1% for Apple. Stanton noted, however, that “Xiaomi phones are still skewed toward the mass market with the average selling price of its handsets 75% cheaper than Apple’s.”
“It will be a tough battle, with Oppo and Vivo sharing the same objective, and both willing to spend big on above-the-line marketing to build their brands in a way that Xiaomi is not,” Stanton said.
“All vendors are fighting hard to secure component supply amid global shortages, but Xiaomi already has its sights set on the next prize: displacing Samsung to become the world’s largest vendor.”
Xiaomi has benefitted from Huawei’s struggles. Huawei was once the largest smartphone player in the world, but U.S. sanctions cut the Chinese company off from critical supplies including software and chips, causing its sales to plunge.
While smartphones still account for the majority of Xiaomi’s revenue, it is looking to get into new business areas. In March, the technology firm announced plans to launch an electric vehicle business and invest $10 billion over the next 10 years. Time will only tell what the future has on hold.
After the usual fall releases of new models, Samsung and Apple shipments are also predicted to increase.
Unlike Apple and Samsung, who both have exclusive operating systems and in-house chipmaking capabilities, Xiaomi doesn’t have anything that sets them apart in terms of service or production. Lei is aware of the difficulties and says he expects a tight “seesaw game” in the future.
Xiaomi announced in March that they would be investing $10 billion over a decade to expand into the electric vehicle market. Growing the new firm by making it an integral part of an organisation selling anything from cellphones to lifestyle items is one option.