In August 2024, Xiaomi secured the number two position in global smartphone sell-through volumes, marking its first ascent to this rank since August 2021.
The giant Chinese technology company surpassed Apple, which settled into third place, while Samsung maintained its position at the forefront, according to Counterpoint Research.
In August, Xiaomi outperformed the smartphone market, leveraging promotions-led growth in Latin America to counteract seasonal declines in key markets.
Despite facing a challenging macroeconomic and geopolitical environment after supply issues in 2022, Xiaomi adjusted its product, sales, and channel strategies, achieving strong year-over-year growth nearly every month.
Counterpoint Research Director Tarun Pathak noted Xiaomi’s leaner product strategy, focusing on a single standout model per price band rather than multiple devices.
The company has strengthened its presence in both entry-to-mid-tier segments and the premium market with foldable and ‘ultra’ devices.
Economic recovery in Xiaomi’s key markets has boosted demand for lower-priced devices, especially with the launch of its competitive Redmi 13 and Note 13 series.
Xiaomi’s rise to the no. 2 spot in August was partly due to its aggressive growth and partly due to Apple’s seasonal decline before the launch of new iPhones.
This shift highlights increasing competition in the global smartphone market, where technology and price similarities push brands to innovate in design, marketing, and product ecosystems.