Singapore-based research firm Canalys has revealed that the Chinese multinational electronics company Xiaomi has become the world’s second-largest smartphone manufacturer in the second quarter of 2021, by surpassing American multinational technology company Apple.
According to the market research agency, Xiaomi moved into second place for the first time, with a 17 percent share of global smartphone shipments, up 3 percent over the previous quarter.
In the second quarter, global smartphone shipments increased by 12 percent, with Samsung Electronics taking the lead with a 19 percent share and Apple in third place with a 14 percent share.
“Xiaomi is growing its overseas business rapidly. For example, its shipments increased more than 300 percent in Latin America, 150 percent in Africa, and 50 percent in Western Europe. And as it grows, it evolves. It is now transforming its business model from challenger to incumbent, with initiatives such as channel partner consolidation and more careful management of older stock in the open market. The average selling price of Xiaomi phones is about 40 percent to 75 percent cheaper compared with Samsung and Apple.”
According to the report, Vivo and Oppo kept up their strong growth momentum to complete the top five smartphone manufacturers in the world. Both Oppo and Vivo secured a 10 percent share of global shipments each in the second quarter of 2021 and secured the number 4 and number 5 spots, respectively.
Samsung had a consistent growth of 15 percent in year-over-year shipments, while Xiaomi’s global shipments grew by a staggering 83 percent and Apple’s shipments grew marginally by 1 percent, as per the report.
“A major priority for Xiaomi this year is to grow sales of its high-end devices, such as the Mi 11 Ultra. But 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,” added Mr. Stanton.