Xiaomi took a 17% share of global smartphone purchases before Apple’s 14% and after Samsung’s 19%.
Xiaomi is expanding its overseas business swiftly. Canalys Research Manager Ben Stanton stated in a press release that shipments progressed 300% year-on-year in Latin America and 50% in Western Europe.
The Chinese smartphone maker scored a year-on-year smartphone purchase development of 83%, facing 15% for Samsung and 1% for Apple.
Stanton addressed, nevertheless, that Xiaomi phones are for the mass market, with the standard selling cost of its handsets 75% more affordable than Apple’s.
However, the Beijing-headquartered company is now seeming to push into the high-end market. This year, it started the Mi 11 Ultra, a premium smartphone that begins at 5,999 yuan ($928). It also discovered the 9,999 yuan Mi Mix Fold, its first foldable phone.
Tight Battle with Rivals
That price range pits Xiaomi versus Apple and Samsung in the premium segment. Nevertheless, its private rivals Oppo and Vivo are also trying to burst through into the high-end market.
It will be a tight battle, with Oppo and Vivo sharing the same objective and both ready to spend big on above-the-line marketing to grow their brands in a way that Xiaomi is not, Stanton stated.
All vendors are working hard to ensure component supply among global shortages. Still, Xiaomi already has its perceptions set on the following prize: removing Samsung to become the world’s most prominent merchant.
Xiaomi has served from Huawei’s difficulties. Huawei was previously the most prominent smartphone player globally. However, U.S. sanctions cast the Chinese company off from critical supplies, including software and chips, creating its sales to fall.
While smartphones still value most of Xiaomi’s revenue, it is attending to new business areas. In March, the technology firm affirmed plans to launch an electric vehicle market and finance $10 billion across the next ten years.