Xiaomi has steady growth in 2024

Xiaomi has once again taken second place in global smartphone sales in August 2024, something it hasn’t done since 2021. According to preliminary data from Counterpoint Research, Xiaomi has maintained its sales volume stable month-on-month, while Apple has suffered a seasonal decline in the same period.

This performance is a direct result of Xiaomi’s accelerated growth in 2024, which drove its recovery in the global smartphone market. Learn more about how this happened.

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Xiaomi’s Strategy and Growth

In 2024, Xiaomi experienced very positive growth and this was thanks to a strategy adjustment made after 2022, as that year turned out to be quite challenging for the company. At that time, Xiaomi had to deal with supply issues, in addition to the complicated macroeconomic scenario.

The following year, in 2023, the company already began to change its approach to products, sales and channels, an important step that played a big role in this consistent growth throughout the year. As a result, the company saw almost monthly increases in sales.

According to Tarun Pathak, research director at Counterpoint Research, Xiaomi has adopted a more focused strategy, launching one “hero model” per price point, rather than flooding the market with multiple devices in the same segment.

“In addition, the brand has stepped up its sales and marketing efforts, expanding into new markets and consolidating its position in existing markets. While entry-level and mid-range devices continue to be strong for Xiaomi, the company has also entered the premium segment with foldable devices and ultra models.”

Latin America was one of the markets where Xiaomi grew the most in August 2024, mainly due to major promotions and an economic recovery that favored demand for lower-cost devices.

The company has also made a name for itself in India, Southeast Asia, and the Middle East and Africa, cementing its position with affordable products and strong marketing strategies. The launch of competitively priced 5G devices, such as the Redmi 13, was one of the key factors that allowed Xiaomi to gain market share in key markets.

Apple’s seasonal decline

In addition to this strategy and market growth, Xiaomi managed to reach second place and overtake Apple, which could also be the cause of a seasonal drop in iPhone sales. This drop is common in August, as Apple always launches its new line of smartphones in September, which has already happened.

In other words, even if Xiaomi has benefited from this small decline, it is still uncertain for how long, since it is very likely that with the new iPhone 16 Apple will end up regaining its position back, with sales boosted in the coming months.

Still, the chart shows that the major smartphone brands continue to compete fiercely. Little by little, both the technologies and the price ranges of the devices are becoming very similar, which means that companies need to focus on other factors such as design innovation, new features and models (such as foldables) and marketing strategies to stand out.

In addition to a good strategy, as Xiaomi itself proved this year.

Fonte: counterpointresearch