Ever again, in August 2024, Xiaomi unveiled that the firm overtook Apple to become the second-largest seller of Android smartphones in the world since August 2021. Market trends and sell-through volumes: Data from Counterpoint Research’s Smartphone 360 Monthly Tracker for Xiaomi shows that Apple had a seasonal dip. However, Xiaomi had stable numbers for both the global sell-through volumes in October and September.
This clearly shows that Xiaomi emerged in the limelight in 2024, indicating the world’s gradual progress towards the recovery of the smartphone market after the devastating effects of the pandemic, as Samsung recorded stable growth. It is crucial to return to its roots and redesign a strategy in producing goods and services and selling and marketing them after Xiaomi faced the most difficult period in 2022 and early 2023.
The company optimized its products to aim at unique models in every category and segment rather than launching many similar devices. This change in strategy and the expansion of business to new markets has enabled Mi to do well, especially in the entry to mid-end portfolios.
Some major markets, such as India and other emerging markets, including Latin America, Southeast Asia, and the Middle East, have proved competitive in the market for Xiaomi Redmi 13 and Note 13 series, which offers 5G at a reasonable price. Thus, Xiaomi’s increased contribution and traditional Apple declined in August due to customers’ anticipation of new iPhone models coming in September.
Forecasters expect that the next iPhone 16 line will increase the company’s sales and help it regain the rank of the second-largest and perhaps even the world’s largest smartphone maker in the coming years.
Xiaomi’s recent performance is part of global trends in smartphones, where brands are becoming more commodified. With device technology and pricing strategies of various products and services getting closer to one another, competition has shifted toward differentiating various brands through new designs, such as foldable ones, and the integration of generative AI features.
This recent success also points to the fact that Xiaomi has been mainly focused on product innovation, market reach, and research and development, which makes it the foremost competitor in the global Smartphone market.
