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Xiaomi becomes No. 2 in the world, surpassing Apple

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China’s Xiaomi has overtaken Apple as the world’s number two smartphone maker in a dynamic market since the lifting of restrictions.

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In a buoyant market with the lifting of confinements, Chinese smartphone maker Xiaomi has overtaken Apple as the world’s number two manufacturer.

According to a study by the firm Canalys, global sales of smartphones increased by 12% in the second quarter. Samsung maintains its position as the world’s leading company with a 19% market share.

Xiaomi reached second place for the first time with a 17% market share as its sales jumped 83%.

In addition to gains of 300% in Latin America, 150% in Africa, and 50% in Western Europe, the Chinese group is “rapidly expanding its overseas business,” according to Ben Stanton, research director at Canalys.

“As it grows, it evolves (…). However, it is still largely geared towards the mass market, and its average selling price is 40% lower than Samsung and 75% cheaper than Apple,” states the official.

In the global market, Oppo and Vivo, both Chinese, are ranked 4th and 5th respectively with a market share of about 10% each.

Recently, Xiaomi was removed from the blacklist of Chinese companies subject to sanctions for national security issues.

For MetaNews.

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Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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