As per the report by market research firm Canalys on Global smartphone market, Chinese smartphone manufacturer Xiaomi Corp overtook Apple Inc in the second quarter of 2021 to become the world’s No. 2 smartphone maker.
Smart phone competitor Xiaomi escalated at the second spot with 17% share of worldwide smartphone shipments for the first time, which is reportedly up 3% from the previous quarter, according to the details provided by a research firm.
Considering the statistics of global shipments – Xiaomi aced the second spot for the first time with 17% share of worldwide smartphone shipments, up 3% from the previous quarter, Global smartphone shipments grew 12% in the second quarter, headed by Samsung Electronics with a 19% share, and Apple at third place with 14% share, the fourth and fifth positions were taken by Oppo and Vivo (BBK electronics subsidiaries) with 10 % share each.
Analyzing the reason behind the company’s huge leap, the report stated that major part of Xiaomi’s inventory is allotted to the budget segment. Compared to the premium smartphone range of Apple, Xiaomi’s average selling price is around 75 percent cheaper than the prior. In order to accelerate its revenue, the Chinese brand will need its premium smartphone segment such as the Mi 11 Ultra to fire along with its budget line-up. Xiaomi got major sales boost from 3 regions – Latin America, Africa, and Western Europe: According to the report by Canalys. The company’s consistent growth can be accoladed to Huawei‘s struggle caused by the US sanctions. However, priority for Xiaomi this year is to grow sales of its high-end devices.