Its market share Huawei continues to fall rapidly in many countries around the world, and new market research has shown that Xiaomi benefits more from this fall.
Τhour, this huge success of hers Xiaomi in the field of sales was officially confirmed by the latest financial results announced by the company.
Xiaomi announced (via Bloomberg ) a huge increase in its profits by Present in several = 36,7% after the last quarter ending in December 2020.
Smartphone sales once again accounted for more than half of Xiaomi's total sales. The company managed to increase by Present in several = 32% in shipments during the last quarter, while sales on the company's smartphones increased by Present in several = 38,4% compared to the previous year, while suggesting that its customers began to prefer the more expensive models of the company.
This huge success of Xiaomi is mainly due to its ability to quickly attract lost customers from Huawei. Especially in China, the company sold against Present in several = 52% more smartphones at 4st quarter of 2020 than in the 4th quarter of 2019, increasing its market share by almost 15 percentage points.
In Europe, Xiaomi has also reaped huge benefits from its downfall Huawei. In fact, last year the company stabilized its position as the third largest smartphone manufacturer in sales in Europe, behind its rivals Apple and Samsung.
The global chip shortage could affect Xiaomi's growth rate
Despite its recent success, Xiaomi has warned of the inconveniences it faces in supplying the material it needs to meet production needs. The lack of Chips worldwide continues to affect the manufacture of products in a wide range of categories and not only smartphones, and will become a major challenge this year and next year for all manufacturers, according to the President of the company Wang Xiang.
Nevertheless, Xiaomi is expected to continue to grow rapidly this year, but it is still difficult to predict how the problem of lack of Chips that all companies will need to build their products will develop.
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