In August, Xiaomi Overtakes Apple To Take The Second Spot Globally For Smartphones

As of August 2024, Xiaomi has surpassed Apple to occupy the second position in the worldwide phone brand rankings by sales volume, per a survey published by Counterpoint, a market research organization.

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Highlights Xiaomi ranked second in the global smartphone market

Even though Xiaomi’s sales were consistent from month to month and did not differ much from those of the prior month, the brand was able to secure the second place due to Apple’s seasonal fall.

The research goes on to say that, starting in August 2021, the Chinese smartphone manufacturer established its place in the worldwide smartphone sell-through volumes. Here are other details.

Highlights

In August 2024, Xiaomi’s robust performance in Latin America propelled its expansion.

One important contributing element to Xiaomi’s total rise was their low-cost smartphone.

By volume, Samsung continues to be the most popular smartphone brand worldwide.

Xiaomi ranked second in the global smartphone market

The Counterpoint Research research states that Xiaomi’s robust performance in Latin America—where discounts helped offset slower sales in other important markets—led the company’s overall growth in August 2024.

According to the study, Xiaomi’s low-cost smartphone, which costs about $200, or about Rs 17,000, played a big role in the company’s overall expansion.

In addition, the Redmi 13 and Redmi Note 13 series’ widespread appeal contributed to the brand’s success in gaining market share in Latin America, Southeast Asia, India, and the Middle East.

According to the research, the cyclical decline in iPhone sales in August, which occurs each year before to the release of the company’s new models in September, is partially responsible for the rise of the Chinese smartphone brand to become the second largest.

Though the iPhone 16 series has already been revealed to the world, it is anticipated that the US-based tech giant will regain its position in the upcoming days, weeks, or months.

Furthermore, Xiaomi reportedly had a 22 percent year-over-year (YoY) gain in sales volumes in the first half of 2024, making it one of the fastest-growing brands. According to the research, as base effects fade, growth is probably going to slow down in the second half. Nonetheless, in 2024, the brand of smartphones is anticipated to have robust double-digit growth.