Chinese smartphone maker Xiaomi climbed to second place in the global market in the second quarter, ahead of Apple, according to a new report from analyst firm Canalys. Xiaomi has a 17 percent share of global smartphone shipments, surpassing Apple (14 percent) but not reaching Samsung (19 percent).
“Xiaomi is rapidly expanding its overseas business “- said Ben Stanton, head of research at Canalys, in a press release, noting a 300 per cent increase in deliveries in Latin America and a 50 per cent increase in Western Europe over the previous year. The Chinese company grew 83 percent year-over-year in smartphone shipments, compared to Samsung’s 15 percent and Apple’s 1 percent growth.
Stanton, however, noted that Xiaomi’s phones are still moving toward the mass market , as the average selling price of its handsets is 75 percent lower than that of Apple. Earlier this year, it launched the Mi 11 Ultra, a premium smartphone that starts at 5,999 yuan ($ 928). It also launched the 9999 yuan Mi Mix Fold, its first folding phone. In this price range, Xiaomi is the opponent of Apple and Samsung in the premium segment. But its domestic rivals, Oppo and Vivo, are also trying to break into the high-end market.
“It will be a tough battle, as Oppo and Vivo have set themselves the same goal and are both willing to spend large sums of money. wide-ranging marketing to build their brand in a way that Xiaomi does not, “Stanton said according to CNBC.
The expert believes that all manufacturers are fighting hard to ensure parts supply in the global market. but Xiaomi has already set itself the goal of ousting Samsung to become the world’s largest manufacturer.
Xiaomi has benefited from Huawei’s struggles in the global market. Huawei was once the world’s largest smartphone maker, but U.S. sanctions cut the Chinese company away from critical suppliers, including software and chips, causing sales to plummet.
Although Xiaomi’s revenue most of it is still made up of smartphones, the company is trying to break into new business areas. In March, the technology company announced it would launch an electric vehicle business and invest $ 10 billion over the next 10 years.
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