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BUSINESS & TECH

Xiaomi Cements Spot as India’s Top Smartphone Brand

“Pokemon Go” fans play the game on their cellphones in India in July 2016. Photo: VCG
“Pokemon Go” fans play the game on their cellphones in India in July 2016. Photo: VCG

IPO candidate Xiaomi Inc. consolidated its position as India’s leading smartphone brand in the first quarter of 2018, while the struggling Lenovo dropped out of the fast-growing market’s top-five vendor list for the first time in four years, according to data-tracking firm IDC.

Xiaomi boosted its share of the India smartphone market to 30.3% in the first three months of 2018, up more than 3 percentage points from the previous quarter when it ousted South Korea’s Samsung to take the market’s crown, IDC said on Monday. The Chinese company has held up India as one of its biggest overseas success stories as it prepares to make what will likely become the world’s biggest public listing by a high-tech company since Alibaba’s record $25 billion IPO in 2014.

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