A Xiaomi logo is seen in a Xiaomi store on June 22, 2021 in Shanghai, China.
Wang Gang | Visual China Group | fake images
GUANGZHOU, China – Chinese smartphone maker Xiaomi was the second-largest smartphone maker in the second quarter, overtaking Apple, a new report from analyst firm Canalys showed.
Xiaomi had a 17% share of global smartphone shipments, ahead of Apple’s 14% and behind Samsung’s 19%.
“Xiaomi is growing its overseas business rapidly,” Canalys Research Manager Ben Stanton said in a press release, noting that shipments were up 300% year-on-year in Latin America and 50% in Western Europe. .
The Chinese smartphone maker posted a year-on-year growth in smartphone shipments of 83% versus 15% for Samsung and 1% for Apple.
Stanton pointed out, however, that Xiaomi phones are still biased towards the mass market with the average selling price of their phones 75% cheaper than Apple’s.
But the Beijing-based company is now looking to enter the high-end market. Earlier this year, it launched the Mi 11 Ultra, a premium smartphone that starts at 5,999 yuan ($ 928). It also launched the 9,999 yuan Mi Mix Fold, its first folding phone.
That price range pits Xiaomi against 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, with Oppo and Vivo sharing the same goal, and both willing to spend a lot on marketing above the line to build their brands in a way that Xiaomi does not,” Stanton said.
“All suppliers 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 supplier.”
Xiaomi has benefited from Huawei’s struggles. Huawei was once the world’s biggest smartphone player, but US sanctions deprived the Chinese company of critical supplies, including software and chips, causing its sales to plummet.
While smartphones still account for the bulk of Xiaomi’s revenue, it is looking to enter new business areas. In March, the tech firm announced plans to launch an electric vehicle business and invest $ 10 billion over the next 10 years.
– Correction: This story has been updated to accurately reflect that this is not the first time that Xiaomi has surpassed Apple.
