At that time Xiaomi became the fourth-biggest smartphone giant in the world of smartphones, according to an International market researcher Data Corporation. While that’s a significant position, but at once it also occupied the third-place, behind Samsung and Apple, but now its fellow Chinese firm Huawei takes third place.
Xiaomi became successful to double its market share to 7.2% from 3.3% during the last years fourth quarter. That’s not a surprise for markets stakeholders because the company has continued to show its significant growth in and also outside of China, India and Russia are two key consumers countries. Xiaomi emerged and became the fastest growing brand year-on-year (+60%) surpassing its home-country rivals Vivo (+45%) and Oppo (+33%).
The company has been expanding its business by opening the number of Mi Stores and Mi Service Centers outside China, with fast buildout coming in markets like Pakistan and Indonesia. Afterward, Xiaomi’s plan is to open more than 2,000 Mi-stores worldwide by 2019, with just about half of them in China.
In India, Xiaomi launched Redmi series which is according to Xiaomi there’s most popular series in India and roped in Bollywood celebrities as there brand ambassadors to endorse the selfie-centric smartphone series.
The Redmi 5A, which was launched at US$78, observed that more than a million pieces have been sold within a month of its launch. The brand continued to expand its retail presence by adding more and more preferred partners, launching new Mi stores, and partnering with large format retail stores.
2018-2019 will be many important years for every smartphone makers because some of the magnificent smartphones are coming out in this time period, So, lets see who will win the race and became the leader of the market, but if we see Xiaomi’s growth bubble ever-outward we can say it will be one of the most interesting manufacturers in market and we have to keep an eye on its future products.
The ‘Apple of China’
Like many companies, Xiaomi wants its smartphones to be just the start of an entire tech ecosystem for its users, which may partially explain why it’s sometimes referred to as the “Apple of China.”