In August 2024, Xiaomi rose to second place in worldwide smartphone sales, overtaking Apple for the first time since August 2021. Xiaomi maintained steady sales, while Apple experienced a decline during the same period, according to Counterpoint Research Smartphone 360 Monthly Tracker.
Xiaomi surpasses Apple in sales in August.
In August, the company exceeded market expectations by offsetting seasonal declines in its primary markets with growth fueled by promotions in Latin America. Xiaomi, along with other industry players, encountered significant challenges in 2023 following supply issues in 2022.
Xiaomi made adjustments to its product strategy, sales, and channels after facing challenges in 2022 and the first half of 2023. As a result, the company has seen significant growth in the past year.
This year, Xiaomi streamlined its product lineup by focusing on one main model per price range instead of releasing multiple devices in the same category. The company also expanded its sales and marketing efforts, entering new markets and strengthening its position in existing ones. Xiaomi’s performance is strong in the lower price ranges, particularly below $200, following the launch of the Redmi 13 and Note 13 series, which offer affordable 5G devices. Additionally, Xiaomi is making progress in the premium segment with foldable smartphones and ‘ultra’ devices. Many of Xiaomi’s key markets have seen economic improvement recently, leading to increased demand for devices in the lower price segments.
Xiaomi’s models gained widespread popularity, helping the company increase its market share significantly in important regions like India, Latin America, Southeast Asia, the Middle East, and Africa. In Brazil, Motorola surpasses Apple, with Xiaomi holding the fourth position in the country.
Apple has the potential to reclaim the top position.
Xiaomi’s rise to the second position in the market is attributed to its recent rapid growth and Apple’s seasonal decline in August. The upcoming launch of the iPhone 16 is expected to boost Apple’s sales and potentially help it reclaim the top spot. Xiaomi’s success highlights the increasing competition in the smartphone market driven by advancements in technology and pricing strategies. Factors like foldable smartphones and AI capabilities are enabling brands to stand out, emphasizing the importance of device ecosystem, product design, marketing, and research strategies demonstrated by Xiaomi’s recent growth.
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