According to Counterpoint Research, Xiaomi captured the second spot in the global smartphone market in August 2024, surpassing Apple for the first time since August 2021.
Xiaomi Top 2 Smartphone Brand in August 2024
The latest report reveals that the Chinese manufacturer outperformed the market in August 2024. This was despite seasonal declines in its key markets but was offset by promotions-led growth in Latin America.
Counterpoint Research also credits the strong growth to Xiaomi’s altering of its product, sales, and channel strategy after a weak performance in 2022 and H1 2023.
Moreover, devices like the Redmi 13 and Redmi Note 13 series were highlighted as one of the reasons for the surge of performance in the global market. “Xiaomi is especially strong in the lower price bands, i.e. <$200,” the report says.
The more affordable devices are mostly popular in key markets like India, Latin America, Southeast Asia, and Middle East and Africa.
Counterpoint Research also notes August tends to be Apple’s weakest month in a given calendar year because of the expected September launch of the latest iPhones just like the latest iPhone 16 series that included the 16 Pro and 16 Pro Max.
As of August 2024, Samsung was the strongest performer in the global smartphone market with Xiaomi and Apple holding the top two and three spots, respectively.
“With new form factors (foldables) and GenAI features helping brands differentiate their offerings, device ecosystem, product design, and marketing strategy and research remain as important as ever, as evidenced by Xiaomi’s recent surge,” the research firm concluded.
Ram found his love and appreciation for writing in 2015 having started in the gaming and esports sphere for GG Network. He would then transition to focus more on the world of tech which has also began his journey into learning more about this world. That said though, he still has the mentality of "as long as it works" for his personal gadgets.
