Xiaomi is now the 3rd largest smartphone company based on worldwide shipments in Q3 2020, according to reports by Canalys, the global market analyst firm, IDC, the global provider of market intelligence, and Counterpoint, a global research firm specialising in mobile & technology products.
Xiaomi shipped 46.5 million devices globally with 13.1% share and 42.0% year-on-year (YoY) growth as reported in IDC’s Quarterly Mobile Phone Tracker.
This achievement is due to strong gains in India and a continued strong presence in China, which accounted for 53% of Xiaomi’s volume in Q3 2020. In India, Xiaomi’s production capacity recovered to nearly 85% of its pre-pandemic level, which helped it cater to strong demand.
Among Xiaomi’s top selling smartphone series include the Redmi 9 Series. In addition, Xiaomi launched the mid-range Redmi K30 Ultra and high-end Mi 10 Ultra in China, which further captured consumers’ attention, also stated in the IDC report.
Canalys shared that despite worldwide smartphone shipments reaching 348.0 million units, at a 1% decline YoY, Xiaomi still managed to reach 47.1 million units with 45% YoY growth in Q3 2020. The company invested to bring in local expertise to gain the trust of distributors and carriers in key markets.
Counterpoint further noted that Xiaomi reached its highest-ever shipments at 46.2 million units in Q3 2020, reaching 46.2 million units with 46% YoY growth. The brand was performing well in Southeast Asian markets.
“We firmly believe that no matter what, the pursuit of technological innovations will always be the prerequisite for Xiaomi’s competitiveness; offering amazing products at accessible and honest prices is an evergreen strategy throughout economic cycles; and making the coolest products is inherent to our engineering culture.
“These three principles guarantee Xiaomi’s high quality growth ahead, and are our manifesto for the next decade. They will also be our dedication to our ever-supportive customers and Mi Fans in Malaysia,” said M. Leong, Regional Head of Southeast Asia, Xiaomi.