Monday, June 21, 2021

    Xiaomi Overtakes Apple with 13% Market Share, 75% Upsurge in Shipments

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    Naija247news Media, New York
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    For the first time, Xiaomi overtook Apple as the brand with the third-highest number of global smartphone shipments in Q3 2020. Its shipments for the period were around 46 million, marking a 46% YoY increase and 75% QoQ increase.

    As a result, it took a 13% share of the market compared to Apple’s 11%. Apple’s shipments for the period totaled around 42 million, marking an 11% increase QoQ and a 7% drop YoY.

    Xiaomi excelled in China with shipments increasing by 8% YoY and 35% QoQ. Moreover, it experienced rapid expansion in new markets like Europe, MEA and LATAM at Huawei’s expense.

    In total, the top three smartphone brands (Samsung, Huawei and Xiaomi) sold around 177 million units in Q3 2020.

    Notably, though, Xiaomi was the only major OEM to post positive growth in China in Q3 2020. Compared to Q3 2019, the Chinese smartphone market declined by 14%. There was a slight QoQ growth, however, at 6%.

    According to the National Bureau of Statistics of China, the Chinese economy is on its way to recovery.

    In Q3 2020, it grew by 4.9% compared to a 6.8% contraction in Q1 and a mild 3.2% growth in Q2.

    However, domestic consumption remained relatively weak alongside a worsening unemployment rate.

    In September 2020, the jobless rate in the country’s urban areas increased by 0.2% while unemployment among college graduates rose by 4%.

    Xiaomi Overtakes Apple with 13% Market Share, 75% Upsurge in Shipments – Brand Spur

    Apple’s iPhone 11 was the best-selling smartphone model in China during the quarter, with a 55% market share. But due to the postponement of iPhone 12’s debut, Apple sales volume overall dropped by 7% YoY.

    Huawei was the market leader in terms of market share, grabbing a 45% lead down from 46% in Q2 2020. Xiaomi posted significant growth, increasing its market share to 11% from 9% in Q2 2020.

    Of the top 10 best-selling smartphones in the country, seven had 5G capabilities, six of them being Huawei models.

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