A Xiaomi logo can be seen in a Xiaomi store in Shanghai, China on June 22, 2021.
Wang Gang | Visual China Group | Getty Images
Xiaomi had a 17% share of global smartphone shipments, ahead of Apple’s 14% and behind Samsung’s 19%.
“Xiaomi is rapidly expanding its overseas business,” said Ben Stanton, research manager at Canalys, in a press release, noting that shipments in Latin America were up 300% year-over-year and in Western Europe up 50%.
The Chinese smartphone maker saw smartphone shipments grow by 83% year-over-year, compared to 15% for Samsung and 1% for Apple.
However, Stanton noted that Xiaomi phones are still aimed at the mass market, with the average retail price of its phones 75% cheaper than Apple’s.
But the company, headquartered in Beijing, now wants to enter the high-end market. At the beginning of this year it has the Mi 11 Ultra, a premium smartphone starting at 5,999 yuan ($ 928). It also launched the 9,999 yuan Mi Mix Fold, his first foldable phone.
This price range lets Xiaomi compete against Apple and Samsung in the premium segment. But the domestic competitors Oppo and Vivo are also trying to penetrate the high-end market.
“It’s going to be an uphill battle with Oppo and Vivo pursuing the same goal and both willing to spend a lot on over-the-line marketing to build their brands in ways that Xiaomi is not,” said Stanton.
“All vendors are fighting hard to secure component supplies amid the global scarcity, but Xiaomi has already set its sights on the next prize: ousting Samsung in order to become the world’s largest supplier.”
Xiaomi has benefited from Huawei’s struggles. Huawei was once the world’s largest smartphone player, but US sanctions have cut the Chinese company off from critical supplies like software and chips. lets sales collapse.
While smartphones still make up the majority of sales, Xiaomi is looking for new business areas. In March, the technology company announced plans to start an electric vehicle business and invest $ 10 billion over the next 10 years.
– Correction: this story has been updated to accurately reflect that this is not the first time Xiaomi has overtaken Apple.