Xiaomi, with 17 percent market share, now plans to focus on high-end devices.
The global smartphone market increased by 12 percent in Q2 2021, with Samsung leading the pack. The South Korean giant has a 19 percent share followed by Xiaomi with 17 percent market share. Apple fell to third spot with 14 percent share and was aggressively pursued by Vivo and Oppo. These global smartphone makers have retained the top five positions worldwide.
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According to a report by market research firm Canalys, Xiaomi overtook Apple for the first time to bag the title of the world’s second largest smartphone maker. The Chinese smartphone manufacturer also increased shipments by 300 percent, 150 percent, and 50 percent to the Latin American, African, and West European regions, respectively in the same period.
Canalys Research Manager Ben Stanton said as Xiaomi grows larger, it is evolving as well. Today, they have transformed their business model from being a challenger to an incumbent. While it is still mass market-oriented in terms of price, Xiaomi now intends to focus on high-end devices like Mi 11 Ultra. The company’s average selling price is around 40 percent lower than Samsung and 75 percent less than Apple.
Xiaomi will face stiff opposition from other home-grown companies like Vivo and Oppo, as per Canalys. Both Vivo and Oppo have proved that they are willing to spend big, compared to Xiaomi which is a moderate spender when it comes to brand building. Despite these challenges, Xiaomi has set its eyes on toppling Korean smartphone manufacturer Samsung in the coming quarters to become the world’s largest smartphone vendor.
(Edited by : Shoma Bhattacharjee)
First Published: IST