Samsung and Apple have been at the top of the smartphone industry for years now. However, in recent years, a challenger has come to dethrone the Phone Kings: Xiaomi. In a surprising turn of events, the Chinese smartphone manufacturer has just outpaced Apple after all.
Xiaomi is the second-largest smartphone company
According to a financial report by Canalys, via CNBC, Xiaomi’s smartphone market share quickly overtook Apple in Q2 2021. The Chinese smartphone company has a year-on-year market growth of 83%, vastly outpacing its competitors.
In comparison, Samsung’s market growth was just 15% whereas Apple's was a measly 1%. Total smartphone market share now results in Samsung in the top spot with 19% of smartphone sales, Xiaomi with 17% and Apple with 14%.
Xiaomi is rapidly expanding its smartphone industry worldwide. While the phone company was once a rarity in markets outside of China and India, it’s now becoming a mainstream name. The company itself is even going as far as the make regionally exclusive devices as a result of its growth.
A brand for everyone
The success of Xiaomi in recent years could be pinned on the brand’s willingness to make affordable devices. In the face of increasingly expensive devices from Apple and Samsung, Xiaomi's offerings run the gamut of affordability.
Canalys Research Manager Ben Stanton explained that the Chinese phone company makes far cheaper smartphones than Apple. In comparison to Apple prices, the average handset from Xiaomi is 75% cheaper.
That doesn't mean the company isn't providing high-end devices for those who want them. The manufacturer launched its first foldable, the Mi Mix Fold, and the premium Mi 11 Ultra within months of each other.
With competitor Huawei essentially out of the picture and Oppo and Vivo a long way from catching up, Xiaomi is surfing. The company's wave of success is showing no signs of stopping, unless the US decides to stop it like they did with Huawei.