Over the past ten years, Xiaomi has steadily expanded to create its brand in the international market. This Beijing-based consumer electronics corporation is now a household name for many regions throughout the world, whether it is for smartphones, tablets, earphones, dashcams, or even weighing scales.
Recently, the Xiaomi Corporation released its quarterly report on its financial position and market share for Q2 2022. Surprisingly, the firm revealed that its brand had surpassed Apple to become the second-most popular smartphone brand in Europe.
According to a piece on the company's official global newsroom, Xiaomi has been steadily boosting its market share globally over the past few years as well as its global footprint. The business reports that as of Q2 2022, it now represents 21.7% of total smartphone shipments in Europe, ranking second while surpassing Apple in third and trailing Samsung in first.
In terms of smartphone shipments, Xiaomi is placed within the Top 3 in 55 markets worldwide for Q2 2022 and among the Top 5 in 67 markets worldwide. According to the Xiaomi corporation, it increased its market share from quarter to quarter in the Middle East, Europe, Latin America, Southeast Asia, and Africa in Q2 2022.
By way ofrevenue, Xiaomi has announced that its overseas revenue now accounts for 48.4% of total revenue earned by the company, meaning that almost half of the company’s total revenue is now reliant on its overseas operations outside of China, reducing its reliance in the domestic market in China. For Q2 2022, the company recorded 34 billion RMB (4.95 billion USD) in overseas revenue in a single quarter alone.
In terms of overall brand recognition, Xiaomi was rated 266th on the Fortune Global 500 list in August 2022, up 72 ranks from the previous year. The Xiaomi Corporation anticipates continued growth in the recognition of its brand on a worldwide scale.
According to the source, "Microsoft Xiaomi announced its long-term strategic cooperation in image technology with Leica in May 2022, marking another significant step in Xiaomi's expansion of premiumization. Xiaomi released the Xiaomi 12S Ultra, its first model with Leica, in July 2022. It offers a highly texturized smartphone photography experience thanks to its Leica Summicron lenses, Sony IMX989 one-inch image sensor, and Leica Authentic Look and Leica Vibrant Look imaging profiles.
.jpg)
Xiaomi is significantly increasing R&D spending to position itself asa premium brand in the market, and with both the professional Leica-branded Xiaomi 12S Ultra and Xiaomi Mix Fold 2 announced, the brand is more closer and confident than ever to claiming the crown in the smartphone industry.
