Xiaomi becomes number one smartphone brand globally for first time ever

“It could prove to be temporary once Samsung’s production recovers from Vietnam’s COVID-19 wave, but the race has gotten close,” said Counterpoint Research, a market research company dedicated to delivering in-depth intelligence of the technology markets to the C-levels of the mobile industry.

Xiaomi surpassed Samsung and Apple in June 2021 to become the number one smartphone brand in the world for the first time ever.

Xiaomi’s sales grew 26% MoM in June 2021, making it the fastest-growing brand for the month. Xiaomi was also the number two brand globally for Q2 2021 in terms of sales, and cumulatively, has sold close to 800 million smartphones since its inception in 2011.

Xiaomi Corporation, registered in Asia as Xiaomi Inc., is a Chinese multinational electronics company founded in April 2010 and headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, home appliances, consumer electronics, and many other products.

Xiaomi released its first smartphone in August 2011 and rapidly gained market share in China to become the country's largest smartphone company in 2014. At the start of the second quarter of 2018, Xiaomi was the world's fourth-largest smartphone manufacturer, leading in both the largest market, China, and the second-largest market, India.

Xiaomi later developed a wider range of consumer electronics, including a smart home (IoT) product ecosystem, which has connected more than 100 million smart devices and appliances. Monthly active users (MAUs) of MIUI increased to 291.6 million in September 2019.

Xiaomi has 18,170 employees worldwide. It has expanded to other markets including Greater China, Singapore, Japan, South Korea, Russia, South Africa, and most countries and regions in Southeast Asia and Europe.

According to Forbes, Lei Jun, the founder, and CEO, has an estimated net worth of US$12.5 billion. Xiaomi is the world's 4th most valuable technology start-up after receiving US$1.1 billion funding from investors, making Xiaomi's valuation more than US$46 billion.

Ranked 338th, Xiaomi is the youngest company on Fortune Global 500 list for 2021. In 2019, Xiaomi's mobile phone shipments reached 125 million units, ranking fourth globally since 2018.

In Q2 2021, Xiaomi surpassed Apple to become the 2nd most popular smartphone brand in the world, according to Canalys.

The company has been listed on the Hong Kong Stock Exchange since 2018. (ILKHA)