In August 2024, Xiaomi secured the #2 spot in global smartphone sales for the first time since August 2021, as its volumes remained steady while Apple experienced a seasonal decline. Xiaomi’s growth in 2024, driven by promotions in Latin America and a streamlined product strategy, helped it recover from previous supply struggles. The company focused on key markets like India and Latin America, particularly excelling in the sub-$200 price range with popular 5G devices like the Redmi 13 series. Although Xiaomi’s rise was aided by Apple’s seasonal dip, the iPhone 16 launch could see Apple regain its position. Xiaomi’s success reflects fierce competition in the smartphone market, with brands differentiating through foldables, AI features, and strategic marketing.
