Xiaomi has finally broken all sales records in China and made it to the top of the sales list. Xiaomi now stands tall as the number one smartphone seller in China, according to a report on Bloomberg.
According to Canalys, Xiaomi sold 15 million smartphones in China during the second quarter, more than a three-fold surge from a year earlier. Xiaomi surpassed Apple Inc. (NASDAQ:AAPL) in China last quarter, according to Canalys. Xiaomi is the fastest growing phone maker in the world.
The pace with which the Chinese handset maker has captured the market, especially in Asia, is mind boggling. Apple Inc. (NASDAQ:AAPL) remains the top competitor of Xiaomi, at least in the Chinese markets. Apple sold 6.8 million iPhones in the second quarter but could not come close to Xiaomi.
Xiaomi’s primary reason of growth is great performance, aesthetics and durability in low cost. Apple Inc. (NASDAQ:AAPL) and Samsung are at a great threat because of the growing demand for Xiaomi’s smartphones in the region and beyond. However, many experts think that Apple iPhones have a dedicated market which cannot be captured by Xiaomi, mainly because of the fact that Xiaomi makes Android phones and Apple Inc. (NASDAQ:AAPL) still enjoys its own premium ecosystem, which has long been its market catcher. In a race to increase sales, Samsung is expected to cut the prices of its Android phones. This price cut from Samsung may force Apple Inc. (NASDAQ:AAPL) to cut the iPhone prices, which can definitely effect the overall market trend.
Xiaomi has certainly made an obvious mark in the Chinese market. Cost remains the decisive factor in this Apple Inc. (NASDAQ:AAPL) vs Xiaomi battle. Let’s see how soon and how much Apple Inc. (NASDAQ:AAPL) can cut off its iPhone price tags to tackle the emerging Chinese giant.