In the recent few quarters, we have witnessed unstoppable growth of the Xiaomi group. We all know that the company not only manufacture mobile phones but wearables like earphones, watches, bands and home appliances like refrigerators, TVs, Washing machines, and more are also famous all around the world.
However, the main reason for its significant growth is because of its premium phone that the company offers in less pricing. In the third quarter of 2020, Xiaomi’s sales surpassed Apple and returned to third place in the world.
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Xiaomi currently has a market share of more than 20% in the European market and ranks second in the world. It has ranked first in Spain for five consecutive quarters, with a market share of approximately 35%. It also ranks second in Italy, third in Germany and France, and in Russia.
The Latin American market also has strong growth potential. When we talk about another major smartphone market – India, Xiaomi is India’s top-selling smartphone brand in the country for 15 consecutive quarters.
How Chip Shortage is the reason for Xiaomi’s Growth –
The market share of Xiaomi in Europe has grown rapidly. According to industry analysts, the main reason is that it has obtained the share that Huawei has no choice but to give up, while online sales have grabbed the share of Glory.
Due to the lack of chips, Huawei experienced serious shortages after the release of the Mate 40 series. During this period, Xiaomi grabbed part of Huawei’s market share, and Xiaomi has a lot of room for growth in many markets.
How Flagships are the reason for Xiaomi’s Growth –
On the other hand, Xiaomi implements a new strategy and takes the route of high-end price increases, and the effect is currently good. In March this year, the OEM launched Mi 11 Pro and Mi 11 Ultra, and their sale exceeded 3 million units.
The price of the European version of the Xiaomi 11 Ultra is approaching 10,000 yuan, which is definitely a good one for Xiaomi, which has initially hit the high-end market.
In fact, in 2020, Xiaomi launched the Mi 10, which known as the first high-end flagship mobile phone. The price has increased, the 8GB+128GB version of Mi 9 is 3299 yuan, and the 8GB+128GB version of Mi 10 is 3999 yuan.
The market performance of the fully upgraded Mi 10 has not disappointed. Sales have soared all the way and even sold out to the point of being out of stock. In the financial report for the third quarter of 2020, the global sales of Xiaomi’s high-end mobile phones have exceeded 8 million units, and industry insiders said that high-end products refer to the Xiaomi Mi 10 series.
Today, Xiaomi has a number of high-end mobile phone products, including Mi 10 series, Mi 11 series, and Mi MIX Fold phones, with prices ranging from 3999 to 9999, all of which have achieved good market results. Through this year’s quarterly report, we can see that Xiaomi’s high-end mobile phones have grown significantly and had an advantage in market share.
How Poco is the reason for Xiaomi’s Growth –
Xiaomi’s sub-brand, POCO was the fastest-growing brand registering 558% YoY growth driven by its strong demand in the budget segment. It refreshed its portfolio with Poco M3 in the budget segment and with Poco X3 Pro in the mid-segment.
Xiaomi’s growth in 2021 –
In the first quarter of this year, the global shipments of Xiaomi mobile phones priced at RMB 3,000 or more in mainland China and 300 euros and above overseas exceeded 4 million units.
In addition, as per third-party data, Xiaomi’s smartphone market share in China priced between RMB 4,000 and RMB 6,000 increased from 5.5% in the same period last year to 16.1% in this quarter. And, in the first 4 months of this year, the Xiaomi Mi 11 series ranked first in sales of Android phones in the domestic price range of 4000-6000 yuan.
