Xiaomi is truly a wonder story, so forgive me if I go on and on about it. A little over a year ago, Xiaomi was a niche player in China. A small time player. New. Unknown. Today, Xiaomi has overtaken every manufacturer selling in China – including Samsung, Apple, Nokia, Huawei, among others – to become the top smartphone vendor in China. With `14% of the Chinese smartphone market in Q2 2014, the Xiaomi success story is almost unprecedented.
Think about it again: from nobody in China to top smartphone maker in that country AND number five (5) globally. In a little over a year. Not five years. Not ten. Less than two years. Let it sink. Have a look at this chart from Canalys:
Everybody else down; Xiaomi up. That’s the chart for Q2 2013 to Q2 2014 in China.
Canalys says that now Xiaomi is “looking to expand into other markets, with Indonesia, Mexico, Russia, Thailand and Turkey in its sights for the second half of the year.” Settle down for the ride, folks. It looks to get even more interesting.