Xiaomi displaces Samsung in China, becomes leading vendor for smartphones in the world’s largest market
Beijing-based phone maker Xiaomi has displaced Samsung to lead in China, the world’s largest market for smartphones, despite being just a four-year-old company. In the last quarter, the company boasts of tripling its smartphone shipments to the country and acquiring 14 percent of its market share, surpassing Samsung’s market share of 12 percent.
This accomplishment can mostly be attributed to the fact that Chinese consumers are turning to domestic phone manufacturers, as the devices are more cost-effective. Xiaomi has gathered massive popularity in such short time because it sells cheaper, feature-packed devices directly to consumers through its website.
The company’s target markets include countries such as India, Brazil and Russia to ensure further growth. It forayed into the Indian market just last month, selling 20, 000 of its Mi3 smartphones in a flash sale that lasted only 5 seconds.
At present, Xiaomi targets to boost its phone shipments to China even further to 100 million units in 2015.
While Samsung’s shipments to China dropped by 15 percent as compared to last year, the company is not done fighting yet. It intends to expand its marketing for low and mid-cost devices in China to counter the glaring competition.
Photo Credits: Small Business Trends
