Xiaomi has been on a roll as the company first overtook Apple and projections have the company overtaking Samsung for the top spot in terms of global market share. Earlier today, Xiaomi revealed its Q2 2021 earnings showing some pretty impressive results. For one, the company shipped almost 53 million smartphones in the quarter, marking an 86.8% increase when compared to Q2 2020.
With this incredible performance, Xiaomi has grown its global smartphone market share, reaching 16.7%. This falls just behind Samsung, while placing it firmly ahead of Apple. And while the majority of those sales came courtesy of the budget segment, such as the Poco and Redmi brand, Xiaomi confirmed it sold more than 12 million “premium” devices. According to Xiaomi, it states “premium” devices are those that are priced at more than CNY3,000 (about $462).
But the fun doesn’t stop there, as Xiaomi is also rapidly growing its entire ecosystem, including IoT and lifestyle products. In Q2 2021, Xiaomi saw a 35.9% increase year-over-year, while stating that there are now more than 370 million IoT devices connected to Xiaomi’s platform. This number doesn’t include the likes of smartphones or laptops, which is even more impressive the more that you think about it.
Xiaomi also provided some of its numbers in regards to how well it is performing in global markets and not just its home country. In Q2, Xiaomi ended up ranking as number one in smartphone market share across Europe, Southeast Asia, Italy, and France, all for the first time. And in Spain, the company maintained its hold on the smartphone market for the sixth consecutive quarter, with a market share of 41.2%. Part of this has to do with its focus on partnering with carriers, as smartphones sold through carrier channels grew “over 300% YoY”.
Seeing Xiaomi continue to expand its reach and grow exponentially over a yearly basis is simply incredible. Add in the fact that you can’t even purchase a Xiaomi smartphone here in the U.S. without importing it from another country, and it goes to show that the sky’s the limit for Xiaomi. I’m keeping my fingers crossed that we can start seeing more Xiaomi devices here in the States, to provide even more competition to Apple and Samsung.