Xiaomi pips Apple to become world’s no. 2 smartphone brand in August | Tech Tips
Xiaomi has overtaken Apple and become the number two phone brand globally by sales volume in August 2024, according to a report by the market research firm Counterpoint. Despite Xiaomi maintaining steady month-on-month sales, with no significant changes compared to the previous month, a seasonal decline for Apple allowed the brand to reach the second position. The report further outlines that the Chinese smartphone maker secured its position in global smartphone sell-through volumes for the first time after August 2021. Here’s more about it.
Xiaomi ranked second in the global smartphone market
- As per the Counterpoint Research report, Xiaomi’s overall growth in August 2024 was driven by strong performance in Latin America, where promotions helped counterbalance slower sales in other key markets.
- The report mentions that Xiaomi’s budget smartphone, under $200, which is approximately Rs 17,000, proved to be a significant factor in the company’s overall growth.
- Furthermore, the popularity of its 5G-capable Redmi 13 and Redmi Note 13 series also helped the brand to capture the market in India, Southeast Asia, Middle East countries, and Latin America.
- The report states that this growth of the Chinese smartphone brand as the second largest can be partly attributed to the seasonal drop in iPhone sales in August, which happens every year before its new models are launched in September.
- However, considering the iPhone 16 series is already announced globally, it is expected that the US-based tech giant will bounce back to its position in the coming weeks or months.
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Additionally, it is said that Xiaomi came out to be one of the fastest-growing brands in the first half of 2024, clocking 22 percent year-on-year (YoY) growth in sales volumes. The report says that the growth is likely to moderate in the second half as base effects diminish. Still, the smartphone brand is expected to record strong double-digit growth in 2024.
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