They did it, the crazy son of a bitch did it!
Xiaomi, according to many marketing analytics, was the second largest smartphone maker in terms of market shares just behind Samsung. The company has been doing so good lately due to their value phones having great specs.
However, they recently hit a brand new record. According to Counterpoint, they are now the world’s largest smartphone maker, having beat Samsung, for the first time! We just hope this lasts longer than Huawei’s standing.
Counterpoint said that Xiaomi just passed Samsung last June this year, as Xiaomi’s sales grew by 21% on a MoM (month-on-month basis) making Xiaomi the fastest growing company for that month. The company also has sold as many as 800 million phones since their founding in 2011.
This rapid growth of Xiaomi comes down to many factors, one of the main factors is Huawei’s sudden and rapid decline ever since they got banned for trading with the US. With Huawei’s decline, Xiaomi’s marketing strategy became more and more aggressive in order to fill the gap and win the opportunity.
China’s market grew by 16% on a MoM basis that was driven by the 618 festival, according to Counterpoint Senior Analyst Varun Mishra. Xiaomi is the fastest growing OEM and is aggressively expanding by making offline stores. The best performing lines include the Redmi 9, Note 9 and Redmi K series. The pandemic might have also contributed to Xiaomi’s rapid growth, as due to the pandemic, Samsung’s manufacturing slowed down, causing shortages all throughout the world.
Source: Counterpoint Research