Thursday, 30 May 2024
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Xiaomi competes with Samsung and Apple with its recent smartphones

Xiaomi unveiled its flagship smartphone on Sunday with the aim of competing with Apple and Samsung. In December, Xiaomi introduced the 13 and 13 Pro to Chinese consumers, but now the company is exporting them overseas.

While the Xiaomi 13 costs 999 euros ($1,053), the 13 Pro starts at 1,299 euros. Xiaomi had a challenging year in 2022, with its smartphone shipments declining 26% year over year, the greatest fall among the top five largest handset suppliers, claims research firm IDC.

Xiaomi 13 and Xiaomi 13 Pro

According to the most recent financial data available, the business lost money in the third quarter of 2009. Xiaomi has faced a number of difficulties, chief among them a more difficult macroeconomic environment imposed by a slowing Chinese economy.

According to IDC, 1.21 billion smartphones will be distributed globally in 2022, which will be the lowest annual shipping total since 2013.

  • Xiaomi’s smartphone shipments declined 26% year over year
  • The Xiaomi 13 costs 999 euros ($1,053), and the 13 Pro starts at 1,299 euros.
  • When Xiaomi gets into the luxury market, it will be challenging to compete with Apple and Samsung.

Because of a strategy that entails launching high-end devices at incredibly low rates, Xiaomi has developed over time to become one of the largest smartphone makers. It began utilizing a similar strategy to try and break into foreign markets roughly seven years ago.

Yet, it is now trying to make headway in the top end of the market, where margins are better and the industry is still growing.

The market share of high-end smartphones, or those that cost more than $800, climbed from 11% in 2020 to 18% in 2022, per Canalys data. When Xiaomi gets into the luxury market, it will be challenging to compete with Apple and Samsung. In 2022, Samsung and Apple goods will account for 92% of the high-end market, predicts Canalys.

“Taking on Apple and Samsung is really challenging. Runar Bjrhovde, a research analyst at Canalys, told CNBC via email that competing against large organizations with outstanding brand awareness, high-end perceptions, experience-focused solutions, and product ecosystems with high user stickiness is extremely challenging.

Xiaomi is the most recent Chinese smartphone maker to make an effort to enter the high-end market. Oppo debuted this month its more than $1,000 first foldable phone for the international market.

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