Just about two months back, the media was buzzing with news that Chinese smartphone giant Huawei had beat Apple to claim the number two spot in terms of market share in China. That, no doubt, was a feat worth celebrating from the standpoint of Huawei. But right now, it is time to separate the wheat from the shaft. Counterpoint has now released its latest research finding on the Global handset profit share for Q2 2018.

The report covers handset profit for the various brands for the month of April to June. Global handset profit is shown to have grown 4% annually in Q2 2018and this is mainly due to Chinese brands, which were aggressive with their flagship offerings. The combined profits from the various Chinese brands crossed US$ 2 billion for the first time, contributing to almost a fifth of the total handset profits.

Apple emerged as the most profitable brand in Q2 2018 with 62% market share. This is more than the cumulative profitability of all the other brands combined, including Samsung. Apple is closely followed by Samsung with a 17% profit share of the market. This is despite Samsung’s position as the number one smartphone vendors in terms of the number of units sold. Samsung’s profit share actually declined by 21% when compared to the same period last year. This is attributed to a weaker than expected sales of the Galaxy S9 series. The rest of the pack is occupied by Chinese brands. Huawei is at the number three spot with 8% market shares, OPPO at number four with a 5% market share. Fellow BBK brand Vivo occupies the fifth spot with a 4% market share. Finally, Xiaomi is in the sixth spot with a 3% share of the market.

Read Also: Gartner’s Q2 report affirms Huawei has surpassed Apple as the second largest phone vendor

Counterpoint estimated that the remaining 1% of the total industry profit was distributed among more than 600+ handset brands. Some of these brands may close shop as the research firm predicted that the smartphone volumes are likely to be flat as consumers are now keeping smartphones for longer. This will have implications for OEMs’ revenue as OEMs are looking to maximize their profits by increasing their average selling price and entering new price tiers.

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The China-based company has reported a profit of 14.6 billion yuan (approximately $2.1 billion) in the second quarter, a significant jump compared to the last year when the company reported 11.9 billion yuan.

The company says that its sales grew 68.3 percent to 45.23 billion yuan, up from 26.9 billion yuan a year earlier. The growth in sales for Xiaomi can be attributed to the higher smartphone sales volume and higher average selling price for these devices.

Xiaomi, which is mainly known for its budget smartphones, recorded revenue of 30.5 billion yuan for its smartphone business in the second quarter, a surge of 58.7 percent compared to the same period last year. The company claimed that it managed total shipments of 32 million smartphone units in Q2 2018.

However, analysts believe that the Chinese company is eyeing for the Internet-of-Things (IoT) market. Xiaomi reported that revenue from its IoT products, which includes smart TV sets and laptop computers, increased 104.3 percent to 10.4 billion yuan. Further, it adds that revenue from internet services, which include online advertising, rose 63.6 percent to 4 billion yuan.

The company reports that 36 percent of the revenue comes from international markets. Its worldwide growth is 151 percent on a yearly basis and while the increase comes predominantly from India, the company also reports about progress in Indonesia and European countries.

Read More: Xiaomi or Samsung, which company is leading the Indian smartphone market?

In line with its dream of dominating the global markets, Xiaomi recently launched a new sub-brand name POCO in India and POCOPHONE globally. The brand will focus on premium affordable devices to take on the likes of OnePlus and Huawei’s Honor. Yesterday, it launched the first smartphone under this new brand — POCO F1, which is touted as the cheapest Snapdragon 845-powered smartphone, with price starting at Rs. 19,999, roughly $286.

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Samsung and Xiaomi are two of the leading smartphone vendors in India. While Samsung has been dominating in India in terms of the smartphone market share, Xiaomi recently overtook Samsung to be at the pole position.

However, the recent reports regarding the smartphone market share in India have created confusion. While Counterpoint Research and Canalys ranked Samsung as the leading brand in India in Q2 2018, the IDC report places Xiaomi at the top.

Today, market research firm International Data Corporation (IDC) has crowned Chinese smartphone maker Xiaomi as the leading smartphone brand in India with a market share of 29.7 percent. Samsung stands second with a market share of 23.9 percent while Vivo and Oppo grab the third and fourth position, respectively.

Earlier, Hong Kong-based Counterpoint Research suggested that South Korean giant Samsung had reclaimed the top spot in the second quarter of 2018 in India with 29 percent share against Xiaomi’s 28 percent market share.

Canalys, a Singapore-based market research firm revealed that Samsung shipped 9.9 million smartphones in India in the second quarter of 2018, registering almost a 50 percent annual growth rate. The same report said that Xiaomi shipped 9.9 million smartphones — the best quarter it had in the country so far.

Now, according to IDC’s latest Quarterly Smartphone Tracker, approximately one out of three smartphones sold in India in the second quarter was a Xiaomi device. In the online market, it continued to be the number one vendor with 55.6 percent market share, for the seventh consecutive quarter.

Commenting on this development, Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India, said:

Our mission to deliver amazing products at honest pricing has changed people’s lives and started a new chapter in the mobile Internet era in India and I believe we will become an even bigger part of people’s lives.

The IDC report also added that four out of the top five smartphones in Q2 2018 were Xiaomi smartphones – Redmi 5A, Redmi Note 5 Pro, Redmi Note 5, and Redmi 5, which accounted for 26 percent of overall smartphone shipments.

Apart from Xiaomi, Huawei is the other Chinese phone manufacturer that is also climbing the ladder in the Indian market. In the online segment, Huawei registered strong shipments of its Honor-branded phones and grabbed the second spot with an all-time high of 8 percent share in Q2 2018.

Read More: No more Flash sale: Xiaomi Redmi Note 5 Pro now available 24/7 in India

According to IDC, the Indian smartphone market saw an overall healthy growth of 20 percent in the second quarter with a total of 33.5 million units being shipped. The strong growth is being attributed to the slew of online-exclusive launches and strong shipments by offline-heavy vendors.

(Source)

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IDC released its Q2 2018 smartphone shipments and market share data earlier today revealing Huawei has finally overtaken Apple to become the second largest smartphone company in the world. However, the data further points out that Xiaomi was the fastest growing company in the same quarter, with a YoY growth rate of 48.8%.

Back in Q2 2017, Xiaomi managed to ship just 21.4 million smartphones but that increased drastically this year to 31.9 million. Considering the modest growth rate of other companies, except for Huawei, this is indeed a significant jump for Xiaomi. Further, the company now ranks above OPPO (Xiaomi surpassed OPPO in Q1 2018), reversing its position as compared to the same period last year.

RELATED: Xiaomi Bluetooth computer speakers with support for lossless audio launched for 399 yuan ($58)

Huawei YoY growth has been quite impressive as well, increasing its shipments by nearly 41% this year. While Apple shipments have remained more or less stable around 41 million, Huawei managed to grow its shipments from 38 million to 54.2 million units in the previous quarter. However, the Chinese giant still needs some time to catch up with Samsung’s 71.5 million shipments this year. Fortunately for Huawei, Samsung’s shipments have fell by over 10% YoY and if this trend continues, the company could soon overtake the South Korean giant in the next couple of years!

(Source)

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