Global market research firm Canalys announced its Q2 global smartphone market report in which saw Xiaomi taking second place with a 17% share and an 83% year-on-year (YoY) growth, surpassing Apple.
Canalys noted Xiaomi’s efforts to transform its business model from challenger to incumbent, with initiatives such as channel partner consolidation and more careful management in the open market.
In a letter to all employees, Lei Jun, founder, chair and CEO of Xiaomi, pointed out that becoming the World’s No. 2 is a key milestone in Xiaomi’s history. After five years of self-improvement under difficult conditions, Xiaomi’s product capabilities have been enhanced significantly as they paved the way for the premium market segment and increased its market share.
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Xiaomi will continuously strengthen its core capabilities and cement its place as the second-largest smartphone brand,” Lei Jun said.
In Q4 2020, the global shipments of Xiaomi reached 43.4 million units with 31.5% YoY growth, surpassing Apple for the first time and returning to third place. In Q1 2021, Apple rose to No.2 with 15% of the global smartphone market share, followed closely by Xiaomi with its 14% of market share. Xiaomi’s global smartphone shipments were 49.4 million units back then with 69.1% YoY growth.
Xiaomi said that its global expansion, as well as the transformation in new retail channels, have been an important driving force in helping the company become the second-largest smartphone manufacturer. According to the latest global smartphone data of Canalys, Xiaomi is expanding fast in overseas markets, reaching over 300% YoY growth in the Latin America market, over 150% YoY growth in Africa, and over 50% YoY growth in Western Europe.
The Q1 2021 Results announcement of Xiaomi highlighted that Xiaomi smartphones have entered over 100 markets worldwide, ranked No. 1 in terms of smartphone market share across 12 markets and ranked No.2 in Europe. It is also been No. 1 in India for years.