Xiaomi's Ascent: The New Apple in the Smartphone Market?
Is Xiaomi the new Apple in the smartphone market? The question has been on many tech enthusiasts' minds for quite some time. In a certain way, it is true that people are buying Xiaomi phones not just because they believe in the value for money, but also because the brand offers an experience often associated with Apple.
Come from a humble background, I was truly impressed by Xiaomi's ability to take inspiration from Apple to create a user-friendly and stylish device. The Redmi 10C, for example, caught my eye with its design that closely mimics iOS 15. I, like many others, admire the aesthetic and functionality of iOS and Xiaomi has made it accessible to a wider audience.
Xiaomi's Market Performance
To put this into perspective, on July 16, 2021, Lei Jun, the CEO of Xiaomi, posted on his personal Weibo that according to the global smartphone market share ranking released by Canalys for the second quarter of 2021, Xiaomi had surpassed Apple and was second in the world for the first time. Canalys reported that Samsung held the top spot with 19% of the market share, followed by Xiaomi with 17%, Apple with 14%, and Vivo and OPPO also maintaining their strong growth with a combined 15%.
Global Expansion
Xiaomi's focus on the overseas market has played a significant role in its success. In the second quarter of 2021, Xiaomi's phone market share surged mainly due to its overseas expansion. Specifically, the market share in Latin America, Africa, and Western Europe grew by more than 300%, 150%, and 50%, respectively. The company's footprint now spans more than 100 countries and regions worldwide, and it ranks first in 12 of these markets, particularly in Europe and India.
Price and Market Positioning
One of the key differentiators for Xiaomi is its price point. Xiaomi's average selling price is approximately $40, which is about 75% cheaper than Samsung and about 66% cheaper than Apple. This pricing strategy has enabled Xiaomi to capture significant market share, especially in lower-price segments. Despite this, the brand is also expanding its high-end product line, which is still in the early stages of exploration in the international market. By first establishing a strong presence through low-cost products, Xiaomi aims to gradually introduce high-end devices that can attract more consumers.
Comparing Xiaomi and Apple
While Xiaomi shares similarities with Apple in terms of design and user experience, some notable differences remain. In terms of navigation, Xiaomi’s phones have a back button or gesture and a navigation bar, whereas iOS is primarily touch-based. This stand-out feature offers more customization and limitless possibilities for users who desire more control over their devices.
Whether Xiaomi will indeed become the next Apple is a subject of ongoing debate. Its prowess in the low-price market and steady international growth are certainly impressive. However, building a brand that competes on multiple fronts, from design and functionality to pricing and market reach, will require sustained effort and innovation.