Xiaomi Surpasses Apple, Secures Second Spot in Global Smartphone Market

Samsung continues to dominate the global smartphone market, holding the top spot in August 2024 based on monthly sales volume. However, in a significant shift, Xiaomi has climbed to second place, overtaking Apple for the first time since August 2021.

Xiaomi's Rise Fueled by Strategic Shifts

While Xiaomi's sales remained stable month-over-month, Counterpoint Research reveals that the company experienced the fastest growth among smartphone brands during the first half of 2024. This surge in sales, a notable 22 percent increase compared to the previous year, showcases Xiaomi's resilience in navigating economic and geopolitical challenges.

Xiaomi's success can be attributed to strategic adjustments in its product, sales, and distribution strategies. These changes have resulted in steady sales growth, achieving almost consistent year-on-year increases.

The Redmi 13 and Redmi Note 13 series, priced under $200, have played a crucial role in propelling Xiaomi's growth. These affordable devices have helped the company secure significant market share in key regions, including India, Latin America, Southeast Asia, the Middle East, and Africa.

Apple's Expected Comeback

Apple, on the other hand, typically experiences a dip in sales during August. However, the anticipated launch of the iPhone 16 series is expected to boost Apple's performance, potentially reclaiming the second, and even the top spot, in the coming months.

Although Counterpoint has not disclosed the precise monthly sales figures for the top three brands, Xiaomi's achievement underscores its growing influence in the global smartphone market.