Xiaomi Surpasses Apple to Become World’s No.2 in Smartphone Shipments for Q2 2021

(Source: ACG)

Chinese electronics company Xiaomi has taken second place from Apple in the global smartphone shipments ranking during the second quarter of 2021, according to a Friday report from research firm Canalys.

Data shows that Xiaomi’s shipments earned a 17% market share, up 83% year-on-year.

According to Canalys, Xiaomi is growing rapidly in overseas markets, with a year-on-year growth rate of over 300% in Latin America, over 150% in Africa and over 50% in Western Europe. It has transformed its business model from serving as a challenger to a market leader, and continues to offer potential for the market.

The Beijing-based firm’s new goal is to replace Samsung as the world’s largest smartphone manufacturer.

Samsung accounted for 19% of global smartphone shipments in Q2 2021, up 15% from a year ago, while Xiaomi took 17%, up 83% year-on-year and Apple ranked third for 14%, up 1% year-on-year. OPPO and Vivo ranked fourth and fifth, respectively.

Xiaomi’s 2021 Q1 financial report shows that it has entered more than 100 countries and regions around the world, ranking first in 12 countries and regions, ranking second in the European market and ranking first in the Indian market for many years running.

Lei Jun, founder of Xiaomi, posted on social media on Friday that “Becoming the second in the world is a new milestone. Thanks for the support of global Xiaomi fans and all of our partners, and also thanks to all Xiaomi colleagues for their shared efforts!”

Recently, Xiaomi has continuously raised funds, recruited professionals, rewarded employees and even explored plans to enter the car-making industry.

SEE ALSO: Xiaomi Hires More People for Autonomous Driving; New Talent Plan to Be Announced Soon

On the morning of July 15, Xiaomi Group announced that it would issue $800 million in senior bonds with an annual interest rate of 2.875% and maturity in 2031, as well as $400 million in senior green bonds with an annual interest rate of 4.1% and maturity in 2051. The listing and trading of bonds is expected to take effect on July 15, 2021.

On July 2, Xiaomi Group’s board of directors awarded a total of 70.23 million shares to 3,904 employees. At the close of Hong Kong stocks on July 2, Xiaomi Group’s share price stood at HK $26.2 per share, allowing the total amount of awarded shares to reach HK $1.84 billion, with a per capita reward of about HK $470,000.

Xiaomi officially announced intentions to join the electric car race on March 30th this year. National Business Daily had previously reported that Lei Jun had visited SGMW, GWM and other leading car companies.