Chinese smartphone maker Xiaomi registered an incredible performance in 2017, and its market share grew by nearly two-fold in Q3 2017. The company grabbed the top spot from Samsung in the Q4 of 2017.
Commenting on the key trends of 2017Q4, Upasana Joshi, Senior Market Analyst, IDC India, said, “Xiaomi taking a lead over Samsung in the smartphone market and Reliance Jio emerging as the leading feature phone company in India were the two key highlights of the last quarter of 2017.” She added, “The growth of both the vendors was propelled by their aggressive pricing. Xiaomi’s offline expansion and higher marketing spends were other key factors for the vendor’s high shipments in the seasonally low quarter.”
Xiaomi, whose market share in Q4 2017 grew to 26.8%, tripled its shipments on a YoY basis and sold more than 2 million units from its offline channel. Xiaomi has expanded itself by foraying into offline Mi stores. Samsung, which slipped to second position in the smartphone ranking in the last quarter of the year, retains the top spot in the overall year.
To further cement its position in India, Xiaomi has announced that it will invest Rs.7,000 crore in the Indian startup ecosystem to create a local ecosystem for itself and also to gain better local insights.
