Xiaomi has been growing steadily over the past decade to establish its brand presence in the global market. Whether it be smartphones, tablets, earphones, dashcams, or even weighing scales, this Beijing-based consumer electronics company is now a household name for many regions across the world.
Recently, the Xiaomi Corporation published its quarterly report on the company’s financials and market share for Q2 2022, and surprisingly, the company shares that the brand is now the 2nd most popular smartphone brand in Europe, overtaking Apple.
In a published report on the brand’s official global newsroom, Xiaomi states that the company is growing its global footprint, and increasing its market share globally steadily for the past few years. As of Q2 2022, the company quotes that it now accounts for 21.7% of all smartphone shipments in Europe, ranking 2nd whilst overtaking Apple in 3rd and behind Samsung at 1st.
Across the world, Xiaomi is ranked within the Top 3 in 55 markets globally in smartphone shipments for Q2 2022, and within the Top 5 across 67 markets globally in smartphone shipments. The Xiaomi corporation states that it has recorded quarter-on-quarter growth in market share across the Middle East, Europe, Latin America, Southeast Asia, and Africa in Q2 2022.
In terms of revenue, Xiaomi has announced that its overseas revenue now accounts for 48.4% of total revenue earned by the company, meaning that almost half of the company’s total revenue is now reliant on its overseas operations outside of China, reducing its reliance in the domestic market in China. For Q2 2022, the company recorded 34 billion RMB (4.95 billion USD) in overseas revenue in a single quarter alone.
Global brand recognition wise, in August 2022, Xiaomi was named on the Fortune Global 500 list for the fourth consecutive year and ranked 266th, advancing 72 spots from 2021. And the Xiaomi Corporation expects its brand recognition on the global stage to continue to rise.
To quote the report, “In May 2022, Xiaomi announced its long-term strategic partnership in imaging technology with Leica, another milestone in Xiaomi’s premiumization development. In July 2022, Xiaomi announced its first model with Leica, Xiaomi 12S Ultra. It features Leica Summicron lenses and a Sony IMX989 one-inch image sensor, along with the Leica Authentic Look and the Leica Vibrant Look imaging profiles, delivering a highly texturized smartphone photography experience.”
Xiaomi is heavily ramping up R&D investment to establish itself as a premium brand in the market, and with both the professional Leica-branded Xiaomi 12S Ultra and Xiaomi Mix Fold 2 announced, the brand is more closer and confident than ever to claiming the crown in the smartphone industry.
RELATED:
- Get $50 OFF on Xiaomi Mix Fold 2 at Giztop (Coupon)
- Xiaomi MIX Fold 2 smartphone sold out within 5 minutes of going on sale in China
- Get $50 OFF on Xiaomi 12S Ultra Flagship Phone at Giztop (Coupon)
- Xiaomi 12S Ultra launched with Snapdragon 8+ Gen 1 & 50MP triple cameras with Leica lens
(Source)
