Xiaomi has become the world’s second largest smartphone brand in terms of global sales volumes, surpassing Apple for the first time in three years. According to the latest report from Counterpoint Research, Xiaomi’s smartphone sales volumes grew in August 2024 despite its sales volumes not showing a month-on-month uptick. On the other hand, Apple saw a decline in iPhone sales during the same period, a month before the launch of the iPhone 16.
Counterpoint Research’s latest Smartphone 360 Monthly Tracker report has highlighted that Xiaomi also emerged as one of the fastest-growing smartphone brands this year through a realignment in sales strategy. The growth also shows Xiaomi’s turnaround from a weak 2022 to the first half of 2023 when the Chinese company faced supply difficulties across markets. However, Xiaomi shifted its product, sales, and channel strategy to boost smartphone production and supply in key markets, most of which saw an economic recovery in recent quarters in the low-end categories. Xiaomi’s spin-off Redmi is a popular brand in key markets – India, Latin America, Southeast Asia, and the Middle East and Africa.
“Xiaomi has adopted a leaner product strategy this year, focusing its efforts on creating one flagship model per price band, rather than launching multiple devices in one segment. Moreover, it has also revitalized its sales and marketing approach while continuing its expansion into new markets and consolidating its position in existing markets,” said Tarun Pathak, Research Director at Counterpoint Research. He highlighted that Xiaomi’s shift in strategy also includes “forays into the premium segment with foldable and ‘ultra’ devices.”
Xiaomi surpassed Apple In August, despite facing challenges such as the seasonal decline in the Latin American market, Apple’s sales volumes fell due to the off-season. August tends to be Apple’s weakest month as the company prepares to launch a new generation of smartphones. iPhone iPhone 16 devices will be launched in the first or second week of September. Customers postpone iPhone purchases until new models come out, causing Apple’s sales volume to decline significantly almost every year in August. The report says that the iPhone 16 series is likely to propel Apple to secure the second or even first position in the coming months “as sales increase.”
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