Xiaomi has become the third largest vendor of Smartphones in the world. It has surpassed both LG and Lenovo.
We all are well aware of the fact that Xiaomi, the Chinese company was already on a tear and the third quarter of 2014 has proven to be lucky for the company. The IDC has shown that Xiaomi has become the third largest Smartphone selling company. It has surpassed all its competitors, including LG Electronics and Lenovo. The company’s next target is Apple and Samsung. The company owns almost 5.6 percent of market share and it shipped more than 18 million phones.
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The latest numbers provided by the Strategy Analytics reveal that Xiaomi has also surpassed Huawei. Xiaomi has been performing exceptionally well after it hired Hugo Barra, a former Google executive. It is comprehended that the company has been able to double its sales under the supervision of Barra.
Samsung maintains its first position as a Smartphone vendor worldwide while Apple secures the second place and the third place is fortified by Xiaomi. The company has experienced a significant change in its market growth. According to the financial report of previous quarters the company just had 2.1 percent of market share. Whereas in the third quarter the company has been able to attract 5.6 percent of market shares i.e. an increase of almost 3.5 percent shares in the market.
LG Electronics now holds the fourth position and it owns almost 5.2 percent of the Global Market Shares. The Strategy Analytics said that Xiaomi was the star of the third quarter this year. It made a record by capturing 6 percent of the market shares. They also said that the Smartphones created by Xiaomi are becoming famous and popular in the Chinese market. In addition to this they said that Xiaomi is planning to capture the global market as well.
In the previous quarter the company was able to ship 12.8 million Smartphones whereas in the third quarter Xiaomi was able to ship almost 18 million Smartphones. That’s almost an increase of 5.2 million Smartphones. On the other hand LG Electronics has been able to ship up to 16.8 million in the third quarter of 2014. However, in the third quarter of 2013 LG was able to ship only 12 million Smartphones.
One major factor behind the success of Xiaomi is the company’s ability to sell its entry-level devices in the emerging markets such as India and China. Xiaomi’s Smartphones provide users all kinds of functionalities at a minimum price. Places where prominent brands like Apple and Samsung have less presence allow companies like Xiaomi to excel.
In the near future, the Chinese company plans to expand to regions such as Europe and Asia. As they believe that Asian and European markets have great potential for entry level devices.
An important thing to note here is that many Smartphones created by Xiaomi has software and user interface that is similar to iPhone. An example of such a mobile phone is XiaomiMi 2S Smartphone. The top of this phone is a replica of iPhone 5c. The company’s most selling Smartphone, Mi 4 resembles the design of famous iPhone 5s.
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