Xiaomi climbs back to top five smartphone vendor as global market declines

Smartphone Manufacturer Xiaomi

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As per the reports of a leading industry rankings tracker, the very popular Chinese smartphone maker Xiaomi has fractionally jumped up the number game in the global top five vendors list due to the fall of the annual global market scenario. IDC released a data today that the global shipment volume in 2017 dropped from 1.47 billion by 0.1 percent, indicating the first annual market volume shrinkage. On the other hand, another tracker Strategy Analytics claimed a 1% rise in the global market scenario.

As a matter of fact, both China and US which are globally the largest and 3rd largest smartphone markets, witnessed a decline in the sales volume in the last quarter of 2017, as the consumer base posed a lack of market demand for purchase of more expensive and new flagship devices of Xiaomi. This caused a 6.3% year-on-year dip in the total shipment volume in the last quarter, as per IDC. Strategy analysts put the same figure at a disappointing 9%, recording the biggest decline in the shipment volume of in the history of the smartphone industry.

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IDC data suggests that Apple saw more shipment volume for its phones than Samsung in the last quarter of 2017, despite the poor reception of Apple’s iPhone X.

However, China’s Xiaomi outshined its domestic rival Vivo and landed the spot of the world’s 5th largest smartphone making company, following the growth in its smartphone shipment from 74.5 to 92.4 million in the year. Speeding by Xiaomi, Samsung Electronics, Apple Inc., and China’s Huawei Technologies and OPPO maintained their top 4 spots in the number game. The market expanded in favor of the top 5 vendors during the year as shipment volume by others combined dipped by 11.7%. Not very far back, in 2014 and 2015, Xiaomi was the largest vendor in China, but then stiff market competition stagnated its sales volume in the next two years. Keen to bounce back, Xiaomi, valued at around $100 billion, is now exploring a public listing.

Consequently, it has regained growth momentum this year with reasonably priced, innovative products and global market expansion, toppling Samsung’s position as the largest vendor in India.

All the Xiaomi fans hope that it further accelerates its ‘Rise to Power’ (Xiaomi’s tagline) in the global market scenario.

Via: Reuters

Xiaomi climbs back to top five smartphone vendor as global market declines