Xiaomi is no longer a small Asian brand searching for customers. Today, it stands firmly among the largest manufacturers of smartphones and other smart products. Recently, Xiaomi released intriguing numbers for the first quarter of this year. So, how is this Chinese giant performing?
Xiaomi increases its sales During the period from January to the end of March this year, the brand sold 30 million smartphones and recorded 594.8 million active users. It is highly likely that the company has already surpassed the milestone of 600 million users. In total, the Chinese manufacturer reported a profit of 5 billion dollars, for this quarter.
Despite Xiaomi’s rapidly growing sales, it still falls short of the top contenders. Currently, the brand holds 11.3% market share in the smartphone industry. In comparison, competitors like Apple and Samsung dominate with nearly double the market share. Xiaomi still has room for further growth.
Fierce competition in the domestic market
An intriguing battle is also unfolding in the Chinese domestic market. Those expecting Xiaomi to be completely dominant here are mistaken. On the contrary, the situation is quite challenging for Xiaomi. In the first quarter of 2023, the company even dropped to fourth place in smartphone sales. Despite a growth of 22.2% compared to the previous quarter.
So, who is performing better in China?
Vivo claims the third position, Oppo takes the silver, and Apple sits on the throne.
These numbers are indeed interesting. While Xiaomi continues to experience rapid growth, so does the competition. How about you? Do you own any Xiaomi products? Share your experiences with us.