Chinese Smartphone company Xiaomi has shared the top slot with Korean company Samsung in Indian smartphone market. Xiaomi has a market share of 23.5 percent and also shipped 9.2 million smartphones in the quarter 2017Q3. Xiaomi also becomes one of the fastest growing smartphone brand in India with a growth rate of 300% in the third quarter said by IDC.
IDC said that the Xiaomi and Samsung company is rankings in the same slot, both having 23.5% share of India’s smartphone market. While Lenovo-Motorola combines at 9% share, Vivo with 8.5% of share and Oppo with 7.9 shares in the quarter ended September.
Manu Jain, vice president of Xiaomi and head of Indian operations said, “From selling 100,000 phones in July-Sept quarter of 2014 when we launched, we’ve become India’s No 1 brand in both online and offline markets… we sold 9.2 million in the just-ended quarter growing by 300% on-year. Our online share has also increased sequentially to more than 50% in Q3 from 47% before,” from International Data Corporation (IDC) India.
Xiaomi Redmi Note 4: The Real Hero
Xiaomi Redmi Note 4 is one of the best-selling Smartphone in India, also the company sold around four million units in this quarter. Chinese Smartphone company Xiaomi has started selling their product on its websites which help to boost the share from 32% to 37% compared to last year.
The Xiaomi has the highest shipment in a quarter which comes to success by its mid-level portfolio. Manu Jain also said that they on the track to make double the revenue as they did in 2016. The company claimed $1 billion revenue in last year ended this December.
“Within three years of our entry into the Indian market we have been able to achieve a never-seen-before feat of market dominance. As far as we are aware we are the first brand across all sectors to have become a market leader within such a short span of time” said Manu Jain Vice President Xiaomi and Managing Director Xiaomi India.
The smartphone company in India reached a record high of 39 million units in the third quarter of this year. It comes with the growth of 40% as compared to the previous quarter and a healthy 21% growth from the same period last year. Xiaomi is entering into the smartphone segment with Mi Mix 2, which is the average selling price smartphone.