Despite a global decline in smartphone sales, Xiaomi has once again demonstrated its dominance in the Chinese market. According to BCI, Xiaomi and its sub-brands, including Redmi, remained the top sellers in November 2023. The company sold approximately 5.2 million smartphones in the last month alone, registering a 44% growth on a year-on-year basis and allowing the electronics manufacturer to secure additional market share in China.
Xiaomi's Market Position
Xiaomi ranked second in terms of sales in November 2023 in China. In the premium market segment, the company registered an 11.8% growth on a YoY basis. Overall, Xiaomi held 18.3% of the total smartphone market share, including sales from its subsidiaries. Apple remained at the top, while Honor achieved around 4 million smartphone sales, an increase of 12.6% on a YoY basis.
Xiaomi vs. Apple
In the last few days of November (Week 48 of the Year), Xiaomi even surpassed Apple with 78.2K shipments compared to Apple's 78.9K. Although there is still a significant gap between Apple and Xiaomi sales when considering the entire month, Xiaomi appears to be catching up rapidly.
Other Competitors
Huawei and Vivo ranked fourth and fifth, respectively. Huawei also experienced exceptional 74% growth compared to the previous year. On the other hand, sales for Vivo declined, while those for OnePlus and Realme remained negative.
Most brands experienced a busy November due to Double Eleven sales in China. It is hoped that the momentum will continue in December as the festive season and discounts persist.
Conclusion
In summary, Xiaomi's strong performance in the Chinese smartphone market during November 2023 highlights its resilience and effectiveness in navigating challenging industry conditions. Despite a worldwide dip in smartphone sales, Xiaomi and its sub-brands, particularly Redmi, displayed impressive strength within their home market. Xiaomi's continued momentum positions the company favorably for ongoing success in the highly competitive Chinese smartphone market.
