According to a new report from Canalys, Xiaomi is now the second largest smartphone vendor in the world, right behind Samsung. The Chinese company overtook Apple for the spot with 17% of global market share in the second quarter of 2021.
To put this into perspective, Samsung is currently sitting at 19%; that’s only 2% ahead of Xiaomi. Apple, on the other hand, acquired 14% of global market share in Q2 2021 with a year-on-year growth of just 1%.
Impressively, Xiaomi grew by a whopping 83% year-on-year, while Samsung improved by 15%. According to Canalys, this exponential growth is attributed to increase in shipments in several regions. These include Latin America, Africa, and Western Europe.
It’s worth noting that in the same report, Canalys mentioned that Xiaomi was able to achieve this level of growth by selling far more affordable phones than both Samsung and Apple by 40% and 75% cheaper (on average) respectively. Evidently, the Chinese company’s more budget-friendly devices are vital to its growth.