Smartphone maker Xiaomi could become the third-largest company in the world by the end of 2021, according to a new report by research firm Strategy Analytics.
The retailer, which leads the smartphone market in India, will surpass China’s Huawei competition this year, the report said. The telecom giant is currently the world’s third-largest smartphone manufacturer, but recent US sanctions have made the future of its business uncertain.
“In 2021, we believe that Xiaomi will emerge as the world’s third-largest smartphone retailer by Huawei. Xiaomi has performed well in the Indian and Russian markets, and has been particularly aggressive in Central & Eastern Europe and Western Europe, “said Abhilash Kumar, a smartphone analyst at Strategy Analytics. Oppo and Vivo.
The three retailers are expected to become the top three players in the Asia Pacific region, “driven by aggressive marketing, increasing channel measures, and competitive pricing.”
In addition, Transsion Holdings, which uses products such as Itel, Tecno and more, is expected to overtake South Korea’s largest technology company, Samsung, in the African and Middle East regions. The global smartphone market will rise by 2021, growing by 6.5% to 1.38 billion units. The growth is expected to drive the continued expansion of 5G smartphones and improve the global economic situation in the aftermath of the epidemic.
Chinese smartphone retailer Xiaomi currently leads the smartphone market in India, which registered 100 million shipments in the second half of 2020, according to a February report by Cybermedia Research (CMR). The report said Xiaomi owns 27% of India’s shares, followed by Samsung’s 20%. Vivo, Realme and Oppo took the following three positions, with 14%, 11% and 10% of the market, respectively.