Xiaomi becomes number 2 smartphone vendor in Q2 2021

Xiaomi is now the number two smartphone vendor for Q2 2021 according to market research firm Canalys.

According to the report, Xiaomi ranked second for the first time ever with a 17% market share and annual growth of 83%.

The company overtook Apple with a 14% share and 1% growth, and OPPO and vivo with 10% share and 28% and 27% growth, respectively.

Samsung is the leading vendor with a 19% market share and annual growth of 15%.

Canalys also reported that the worldwide smartphone shipments grew 12% in Q2 2021 as vaccines rolled out around the world, and the new normal for economies and citizens started to take shape.

“Xiaomi is growing its overseas business rapidly,” said Canalys Research Manager Ben Stanton. “For example, its shipments increased more than 300% in Latin America, 150% Africa and 50% in Western Europe. And as it grows, it evolves. It is now transforming its business model from challenger to incumbent, with initiatives such as channel partner consolidation and more careful management of older stock in the open market. It is still largely skewed toward the mass market, however, and compared with Samsung and Apple, its average selling price is around 40% and 75% cheaper respectively. So a major priority for Xiaomi this year is to grow sales of its high-end devices, such as the Mi 11 Ultra. But it will be a tough battle, with Oppo and Vivo sharing the same objective, and both willing to spend big on above-the-line marketing to build their brands in a way that Xiaomi is not. All vendors are fighting hard to secure component supply amid global shortages, but Xiaomi already has its sights set on the next prize: displacing Samsung to become the world’s largest vendor.”

source: Canalys