During the last decade, the Xiaomi company has always gone through a growing trend and in this way has established the presence of its brand in the global markets. This Chinese company producing consumer electronics has now become a familiar name in many parts of the world and operates in the field of producing smartphones, tablets, headphones, cameras on the dashboard and even scales.
Xiaomi has recently published its quarterly report regarding the company’s financial situation and the company’s share in the market during the second 3 months of 2022. This Chinese brand has surprisingly claimed that it has now become the second most popular smartphone brand in the European market by surpassing Apple. According to the report published by Xiaomi’s official newsroom, this company has been increasing its share of the global market and strengthening its presence in this field over the past years. In its performance report for the second quarter of 2022, the company claims that Xiaomi’s share of total smartphone shipments in the European market is now equal to 21.7 percent. Thus, after Samsung, Xiaomi has become the second most popular smartphone brand in the European market, and Apple is in third place.
In terms of smartphone shipments during the second 3 months of 2022, Xiaomi was among the top 3 brands in 55 markets around the world. Also, this company has been among the top 5 manufacturers in terms of the transfer rate of smartphones in 67 different markets of the world. According to Xiaomi’s announcement, the company’s share of the Middle East, Europe, Latin America, Southeast Asia, and Africa market during the second 3 months of 2022 has set a new record compared to the previous 3-month period.
In terms of income, Xiaomi has claimed that the company’s foreign income now accounts for 48.4% of the total income earned by the Chinese brand. This means that almost half of Xiaomi’s total revenue is owed to the company’s business activities outside of China. As a result, Xiaomi’s reliance on the Chinese domestic market has weakened.
Xiaomi’s overseas revenue was 34 billion yuan ($4.95 billion) in the second 3-month period of 2022 alone. In the global dimension, Xiaomi was included in the Fortune Global 500 list for the fourth consecutive year in August 2022. This time, the Chinese company ranked 266 in the list and improved its position by 72 places compared to 2021. Xiaomi expects that the growth trend of this brand’s reputation in the global arena will continue.
In this report, it is noted that the announcement of long-term strategic cooperation between Xiaomi and Leica companies in May 2022 is considered as another milestone in the growth and development of Xiaomi. In July 2022, Xiaomi officially unveiled the first product of its collaboration with Leica called Xiaomi 12S Ultra. This handset is equipped with Leica Summicron lenses, 1-inch Sony IMX989 image sensor and Leica Authentic Look and Leica Vibrant Look image profiles. These capabilities allow creating a smartphone imaging experience with high detail in textures.
Xiaomi has increased its investment in the field of research and development activities and in this way intends to raise its name as a top brand in the market. This company has come closer than ever to taking the title of the best smartphone manufacturer in the world by introducing 2 professional products with the Leica brand, Xiaomi 12S Ultra and Xiaomi Mix Fold 2.