Xiaomi Now Controls 18% Of The Chinese Smartphone Market

Domestic producers continued to gain market share in the Chinese smartphone market in Q2, according to IHS Technology. Xiaomi’s reaching a market share of 18%, leaving foreign competitors in the dust, including Apple and Samsung.

Xiaomi’s climb in the Chinese market comes at a time when the company continues its global expansion with the manufacture and launch of its new $160 device, the Redmi 2, for the Brazilian market.

Apparently, Xiaomi is getting bigger. Fast, very fast.

In less than five years, Xiaomi was transformed from a start-up to a $45 billion company, gaining market shares from Apple and Samsung. As of the third-quarter of 2014,  Xiaomi’s sales accounted for 5.2% of the global smartphone market, according to IDC research data.

That’s more than double the 2013 market share and five times the 2012 share.

While Xiaomi is getting bigger, it is growing smarter, too, according to the  recently published MIT’s 50 smartest companies list.Xiaomi rose to the 2^nd position this year, up from 30^th position last year, while Apple climbed to the 16^th position, up from nowhere last year.

From Google, Xiaomi has adopted an open operating platform that has won consumer enthusiasts. From Apple, Xiaomi has learned how to master brand buzz. From Amazon, Xiaomi has learned to compete on razor thin profit margins.

 

To be fair, Xiaomi has added its own technological and marketing touch to smartphones. Last August, for instance, the company introduced the Mi4 smartphone–a high-end product which has helped with Xiaomi’s sales in emerging Southeast Asian markets. Now it is introducing, the Redmi 2 into the Brazilian market. Is something for the American market next?

It remains to be seen.

XIAOMIGLOBAL