Xiaomi Now Controls 18% Of The Chinese Smartphone Market
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Domestic producers continued to gain market share in the Chinese smartphone market in Q2, according to IHS Technology. Xiaomi’s reaching a market share of 18%, leaving foreign competitors in the dust, including Apple and Samsung.
Xiaomi’s climb in the Chinese market comes at a time when the company continues its global expansion with the manufacture and launch of its new $160 device, the Redmi 2, for the Brazilian market.
Apparently, Xiaomi is getting bigger. Fast, very fast.
In less than five years, Xiaomi was transformed from a start-up to a $45 billion company, gaining market shares from Apple and Samsung. As of the third-quarter of 2014, Xiaomi’s sales accounted for 5.2% of the global smartphone market, according to IDC research data.
That’s more than double the 2013 market share and five times the 2012 share.
While Xiaomi is getting bigger, it is growing smarter, too, according to the recently published MIT’s 50 smartest companies list.Xiaomi rose to the 2nd position this year, up from 30th position last year, while Apple climbed to the 16th position, up from nowhere last year.
To be fair, Xiaomi has added its own technological and marketing touch to smartphones. Last August, for instance, the company introduced the Mi4 smartphone–a high-end product which has helped with Xiaomi’s sales in emerging Southeast Asian markets. Now it is introducing, the Redmi 2 into the Brazilian market. Is something for the American market next?
It remains to be seen.