Xiaomi captured the second spot in global smartphone sell-through volume in August 2024 outperforming Apple. For those unfamiliar, the sell-through volume refers to the actual number of units sold to end customers, not just what was shipped to retailers. The data comes from market research firm Counterpoint’s Smartphone 360 Monthly Tracker.
Notably, this is the first time Xiaomi has occupied the second spot after 2021. You can get a better idea of how the sell-through volume of products from Xiaomi, Apple, and Samsung changed in the last three years from the image below.
As you can see, Xiaomi managed to consistently grow its sell-through volume over the period and has finally occupied the second spot again.
Apple offers a narrower range of products, which could contribute to the fluctuations in its sell-through volume over the years. Additionally, the iPhone 16 series has struggled to generate significant interest, with recent reports suggesting it may not reach the sales figures achieved by last year’s models.
That being said, Xiaomi has been one of the fastest-growing smartphone brands in 2024 and has also contributed to the global smartphone market’s path to recovery. According to the report, Xiaomi’s seasonal declines in key markets were offset by promotions-led growth in Latin America.
In the words of Research Director Tarun Pathak, “Xiaomi has adopted a leaner product strategy this year, focusing its energies to create one hero model per price band, rather than launching multiple devices in one segment. Besides, it has also re-energized its sales and marketing focus while continuing expansion into newer markets and consolidating its position in existing markets. While entry-to-mid-tier devices continue to show strong performance for Xiaomi, it has also made inroads into the premium segment with foldable and ‘ultra’ devices.”
Most of Xiaomi’s key markets have seen economic recovery over the past few quarters, which has been most beneficial for demand in lower price bands. The report further highlights that the company’s grip on the market is especially strong in the entry-level segment, i.e. <$200.
(Source)
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