Xiaomi surpasses Apple to become world's #2 smartphone brand
Xiaomi has surpassed Apple to secure the position of the world's second-largest smartphone brand in August 2024, as per Counterpoint Research. This achievement marks a significant milestone for the company, which last held this position in August 2021. Interestingly, Xiaomi's sales remained steady month-on-month during this period while Apple experienced a seasonal dip.
Xiaomi's growth strategy and market performance
Xiaomi's rise to the second spot is attributed to its strategic shift toward a leaner product strategy. As explained by Tarun Pathak, Research Director at Counterpoint Research, "Xiaomi has adopted a leaner product strategy this year, focusing on creating one hero model per price band, rather than launching multiple devices in one segment." The company also enhanced its sales and marketing efforts while venturing into new markets.
Xiaomi's success in lower-priced segments
Xiaomi's dominance in the lower-priced segments has been a key factor in its global success. The popularity of its Redmi 13 and Note 13 series, affordable 5G devices, has significantly contributed to this achievement. These competitively priced smartphones have enabled Xiaomi to expand its market share across India, Latin America, Southeast Asia, Middle East and Africa.
Apple's sales dip and Xiaomi's record-breaking year
Apple typically experiences a dip in sales before the launch of its new iPhone series in September, contributing to Xiaomi's rise. However, Counterpoint Research suggests that the upcoming release of the iPhone 16 series could potentially propel Apple back to its previous position or higher. That said, 2024 has been a record-breaking year for Xiaomi with significant achievements like Redmi 13C being among the best-selling smartphones globally for Q2 2024.
