ANN/THE KOREA HERALD – Chinese smartphone makers are rapidly expanding their presence in the global market, dominating the entry-to-mid-tier segment while gaining attention with innovative premium models, aiming to close the gap with industry leaders Samsung and Apple.
In August, Xiaomi secured second place in global monthly sales for the first time in three years, surpassing Apple, according to Counterpoint Research.
Samsung Electronics retained its lead.
August is typically Apple’s slowest month, as the company tends to release its new iPhone models in October. Xiaomi appears to have benefited from Apple’s seasonal slide for the month. But as one of the fastest-growing brands in the first half of this year marking 22 per cent on-year growth in sales volume, Xiaomi’s beating of Apple is “symbolic” according to the market tracker.
“Xiaomi capturing the number two spot is symbolic of a more significant trend in the global smartphone market. As devices edge closer to each other in terms of technology and price, competition has never been higher among the top brands,” the market tracker said in its analysis.
“With new form factors (foldables) and generative artificial intelligence features helping brands differentiate their offerings, device ecosystem, product design, and marketing strategy and research remain as important as ever, as evidenced by Xiaomi’s recent surge.”
The company, having suffered from severe supply struggles in 2022, has adopted a “leaner product strategy” to create one hero model per price band while tapping into new markets and consolidating its positions in existing markets, research director at Counterpoint Research Tarun Pathak said.
