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Xiaomi surpasses Apple to become the world’s second-largest smartphone manufacturer

Xiaomi Corp, a Chinese smartphone company, surpassed Apple Inc to become the world’s No. 2 smartphone producer in the second quarter, according to Canalys, a market research firm.

With 19 percent market share and 15% growth, Samsung was the most popular smartphone vendor, while Xiaomi gained 17 percent market share owing to an 83 percent increase in smartphone sales during the quarter. Apple had a 14 percent market share, with Oppo and Vivo each having a ten percent share.

Xiaomi’s success may indeed be attributed to its international expansion, with shipments growing by more than 300 percent in Latin America, 150 percent in Africa, and 50 percent in Western Europe. Xiaomi is recognised for offering more affordable smartphones, with an average selling price that is around 75% less than Apple’s iPhones.

To catch up to Samsung, Canalys predicts that Xiaomi would need to sell more high-end devices, such as the Mi 11 Ultra, which costs more than $900.

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BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.