Xiaomi ranks 2nd in Vietnam's smartphone market

According to data from market research firm Canalys, in the first quarter of 2024, Xiaomi was the company with the most positive business index among smartphone manufacturers and distributors. Accordingly, Xiaomi rose to the second position in the ranking of the top 5 phone brands in terms of sales volume in Vietnam.

Xiaomi currently holds the number 2 position in smartphone market share in Vietnam.

Xiaomi Vietnam General Director , Mr. Patrick Chou shared: "We are proud of this achievement, because it is a testament to Xiaomi's tireless efforts over the past time. All for the group's consistent goal of helping users enjoy a good life with quality technology products at reasonable prices."

Facing the general difficulties of the world economic situation, Xiaomi has continuously strived to bring quality products, thanks to which the brand has always received positive support from consumers. Particularly in the smartphone segment, in Vietnam, the growth rate up to the first quarter of 2024 increased to 56%; sales increased to 288%. Xiaomi's smartphone market share increased from 5% (January 2023) to 19% (January 2024), ranking 2nd in the top 5 phone brands in terms of sales volume in Vietnam.

Not only in Vietnam, Xiaomi's smartphone business in other Southeast Asian countries is also positive. In January alone, Xiaomi recorded growth from 9% to 16% in the Southeast Asian market.

In addition, the group has also affirmed its name in the world market with impressive numbers. According to Canalys, Xiaomi has maintained the 3rd position in global smartphone sales for nearly 4 consecutive years. In 2023, Xiaomi's global sales reached about 145.6 million units, with revenue reaching 21.83 billion USD and a gross profit margin of 14.6%. In the third quarter of 2023 alone, Xiaomi's total global smartphone sales reached 41.8 million units, accounting for 13% of the world market share. By the first quarter of this year, this rate increased to 14% with a growth rate of 33%.

Xiaomi's IoT and lifestyle products generated revenue of $11.09 billion, with a record gross profit margin of 16.3%. Xiaomi also continues to develop smart devices such as tablets, electric vehicles, and more, which are increasingly being adopted globally.

In fact, Xiaomi's success largely comes from the Redmi Note product line. Aimed at mid-range users and user-friendly, the company has launched a series of devices with reasonable prices but still possess many high-end features.

Therefore, after only 1 week of opening for sale, Redmi Note 13 officially reached the milestone of 25,000 orders in the Vietnamese market and became the number 1 best-selling product during the Lunar New Year at both The Gioi Di Dong and Dien May Xanh retail systems.

Source: https://thanhnien.vn/xiaomi-dung-thu-2-tai-thi-truong-smartphone-viet-nam-185240509163349086.htm