Xiaomi is expected to consolidate its position as the third-largest smartphone seller globally this year, largely benefiting from the decline of Huawei, which started suffering a sharp contraction in sales from the second half of last year as a result of component shortages caused by U.S. sanctions, according to Strategy Analytics.
In 2021, Xiaomi is projected to grow its share of the global smartphone market by 2 percentage points to a record 13%, which would put it in third place behind Samsung and Apple, which are expected to be the world’s No. 1 and No. 2 smartphone vendor with respective market shares of 20% and 16%, flat from 2020, Strategy Analytics said.
While its home market of China is still Xiaomi’s biggest source of revenue, the company has been aggressively expanding its global footprint for years. The company has dominated India’s smartphone market for 13 consecutive quarters due to its phones’ affordability. In the fourth quarter of last year, it overtook Samsung and Huawei to become the largest vendor in Russia’s online smartphone market amid the second wave of the Covid-19 pandemic.
Much of Xiaomi forecasted success is predicated on Huawei’s continued global troubles. Huawei is likely to fall out of the world’s top five smartphone sellers in 2021, also leaving room for another two Chinese peers - Vivo and Oppo – which are expected to rank fourth and fifth with respective global market shares of 11% and 10%, according to Strategy Analytics.
Overall, the global smartphone shipments may jump 6.5% year-on-year to reach 1.38 billion units in 2021, helped mostly by the improved economic situation as the pandemic weakens, a growing stock of aging smartphones and the push to switch to 5G, according to Strategy Analytics.
Contact reporter Ding Yi (firstname.lastname@example.org)