Xiaomi overtakes Apple to become the 2nd largest smartphone manufacturer in the world

For the first time, Xiaomi has taken the No. 2 position from Apple, in the ranking of the largest smartphone manufacturers in the world. According to a report by Canalys, Xiaomi’s smartphone shipments increased by 12% in Q2/2021 and accounted for 17% of the global market share.

While Samsung currently holds the No. 1 position, Apple has been pushed down to 3rd and lost its 2nd position to Xiaomi. The Chinese company has an extremely impressive growth of 83%, while Samsung grows 15%, and Apple is only 1%.

In terms of market share, Samsung accounts for 19% of global smartphone sales. Meanwhile, Xiaomi holds 17% market share and Apple’s 14%. OPPO and Vivo share the 4th and 5th positions, with the same 10% market share. Unsurprisingly, Huawei does not appear on this list.

According to research by Canalys, one of the reasons for Xiaomi’s outstanding growth is that sales in Latin America have increased by more than 300% and in Africa by more than 150%. Compared to Samsung and Apple, Xiaomi’s smartphones are 40% – 75% cheaper, making them more accessible in developing countries.

Even so, analysts at Morgan Stanley and JP Morgan still highly appreciate Apple’s AAPL stock. The reviews all say that Apple can regain its No. 2 position after launching the new iPhone 13s. Anyway, this is also an extremely impressive success of Xiaomi.

Reference: 9to5mac