Xiaomi becomes 3rd largest smartphone maker in world with triple-digit YoY growth in Q3 2014
IDC’s latest report has revealed that in the total smartphone shipments of 327.6 million units during the third quarter of 2014, Xiaomi shipped 17.3 million smartphones that has made the company as the third largest smartphone maker in the world, following Samsung and Apple. The company’s flash sale model for India and its domination in China are considered to be the key reasons behind its lightening fast growth.
The report says that the total smartphone shipments in the worldwide smartphone market resulted 25.2 percent growth in the third quarter compared to 261.7 million shipments reported in the same quarter last year.
Though the growth rate is not as much high as it was seen in past, some significant changes were observed in the third quarter which would help the market in maintaining its positive growth in future as well. Among those changes, Xiaomi came into the top five list of smartphone vendors with selling its affordable Mi3, Redmi 1S and Redmi Note smartphones and overtaken the third position from its homegrown competitor Huawei.
The analyst firm further reports that Samsung shipped 78.1 million smartphones during the third quarter that grabbed 23.8 percent of the total market but its year-over-year growth declined 8.2 percent.
Apple maintained its second position with shipping 39.3 million iPhone units throughout the quarter that resulted 12 percent market share and 16.1 percent year-over-year growth.
After the two leading smartphone vendors, Beijing-based Xiaomi reached to the third position with shipping 17.3 million smartphones during the third quarter that accounted 5.3 percent of the total market. The Chinese company interestingly resulted triple-digit year-over-year growth for the first time with 211.3 percent change from its results for the same quarter last year.
Lenovo and LG jointly shared the fourth position with shipping 16.9 million and 16.8 million units of their smartphones, respectively. The growth rate of the former smartphone maker is a bit lower with 38 percent year-over-year change while the latter one resulted 39.8 percent year-over-year change.
Commenting on the results, Ryan Reith, Program Director with IDC’s Worldwide Quarterly Mobile Phone Tracker, said:
“Despite rumors of a slowing market, smartphone shipments continue to see record-setting volumes. We’ve finally reached a point where most developed markets are experiencing single-digit growth while emerging markets are still growing at more than 30 percent collectively. In these markets, smartphone price points are making mobile computing possible where we once expected feature phones to remain dominant. This is great news for overall volumes, but the challenge has now become how to make money on devices that are quickly becoming commodity products. Outside of Apple, many are struggling to do this.”
As Apple launched the anticipated iPhone 6 and iPhone 6 Plus in the recent past and Google introduced its Android 5.0 Lollipop operating system last earlier this month, the worldwide smartphone market is expected to result more numbers in the fourth quarter and the coming future is expected to be highly fruitful for emerging companies like Xiaomi and OnePlus.