For the first time in its history, the Chinese company Xiaomi surpassed its competitors and became the main supplier of smartphones around the world. This happened at the end of June 2021, they write in a Counterpoint study.
- On an annualized basis, sales in June 2021 grew by 26%, and the brand itself became the fastest growing in sales this month.
- If we take the second quarter instead of one month, then Xiaomi is still in second place behind Samsung. However, as analysts say, the difference is not as great as it used to be.
- In total, the company has sold about 800 million smartphones since its founding in 2011.
- Counterpoint analysts note that Xiaomi management was able to use Samsung’s component supply issues and Huawei’s (and Honor’s before the split) problems to increase sales and improve its presence in the markets of China, Europe, the Middle East and Africa. «The brand used an aggressive strategy to fill in the gaps of its competitors,» says Counterpoint.