The company has experienced massive growth in the country, skyrocketing its size and share.
The founder of Xiaomi, Lei Jun, has already announced that the massive growth that his company has seen in the Chinese smartphone market has not only pushed it to the top in China, but it has also placed it in the fifth spot among the largest handset makers in the world.
This was accomplished despite the fact that the company was still relatively obscure only one year ago.
Now, Xiaomi has taken the lead in cell phone sales in China. This is a massive accomplishment, considering that the country represents the largest smartphone market on the entire globe. A technology research report that was recently published by Canalys underscored the tremendous growth that the company has been making. It has managed to jet right past other giants within the space, such as Lenovo and even Samsung, in order to take its crown in the country.
Due to the sheer size of the Chinese smartphone market, it has secured Xiaomi as the fifth largest cell phone maker in the world.
The Canalys report went on to say that throughout the second quarter of 2014, Xiaomi managed to ship a tremendous 15 million smartphones within China. During the same quarter of 2013, that figure had been only 4.4 million. To compare, the report showed that Samsung sold 13.2 million cell phones within the country during that quarter, which was a decline from the 15.5 million that it had sold during the same period of time last year.
As a whole, there was a 240 percent year over year growth experienced by Xiaomi during the second quarter. It currently holds an estimated 14 percent of the cell phone device market in China.
According to Chris Jones at Canalys, the company managed to make this tremendous progress within this mobile device sector because it took on an entirely different strategy to its competition. The majority of manufacturers in the country’s smartphone market focus on price when it comes to their competition. That said, Xiaomi placed its focus on its marketing, branding and sales strategies.
This, when compared to the same quarter during 2013. The company also saw a decrease in its revenue by 8.9 percent. This is the first time that the company recorded a year over year net profit drop since 2011 in the third quarter. Since that time, it has been maintaining a steady climb in this area.