Xiaomi has been ruling India with its phones like Redmi Note 4, Redmi 4 and Mi Mix 2 etc! IDC has reported that the Chinese company is now the leading smartphone vendor in 50 countries in India! This is a humungous achievement for the brand indeed. The data pertains to the third quarter of 2017 and if Xiaomi keeps expanding at this speed, many top brands will have a hard time in catching up with it.
These 50 cities make up to 50% of smartphone sales in the Indian subcontinent. The fastest growing markets for the brand were Jaipur, Bhopal, along with Gurgaon. The company overtook Samsung, Oppo, Vivo, Lenovo (& Motorola) in terms of market share.
Xiaomi saw a growth of 120% in this quarter which is quite impressive. Redmi Note 4 proved to be a game-changer of this growth as the device contributed more than 40% to this percentage! As we have mentioned in many articles, the device continued to be the best selling phone in the country and the top-selling phone in these 50 cities. The phone went on a price cut of INR 1000/- and the best thing is that this cut is permanent! To know more about the current price of Redmi Note 4, head to this link.
Manu Kumar Jain, the Xiaomi India head, expressed his elation on Twitter and wrote a heartfelt message for all the Mi users out there!
While Xiaomi grew by 120%, the South Korean giant, Samsung experienced a growth of 15% only. However, due to its presence in the offline market, Samsung continued to be the leading vendor in many cities. Xiaomi owns a whopping 26.5% of the Indian smartphone market while Samsung owns a 24.1% share only. Lenovo managed to get 10.3%, while Oppo and Vivo got 5.2% and 5.1% market share respectively. It must be noted that Lenovo has Motorola under its control and the numbers are for both Lenovo and Moto phones combined!
According to IDC, “Mega-online sales by prominent e-tailers acted as a catalyst for the robust growth across city tiers with e-tailers now contributing around 40 percent of the market in top 50 cities of India.”
With offline sales covering 60% of the market, it would be interesting to see how Xiaomi covers it. According to Navkendar Singh, Associate Research Director, IDC India, “Almost all vendors have now decided to go aggressive on offline channel expansion. It will be interesting to see how they are able to match the distribution strength and retail spends by offline dominant players like Samsung, Oppo, and Vivo.”
What do you think about this report? Is Xiaomi the next Samsung? Let us know in the comments section below!