Xiaomi has grown steadily over the past decade to establish its brand presence in the global market, whether it is selling smartphones, tablets or other consumer devices. Recently, Xiaomi has published its quarterly report on company finances and market share for the second quarter of 2022, and surprisingly, Xiaomi is now the second most popular smartphone brand in Europe, surpassing Apple. In a report published on the brand’s official global newsroom, Xiaomi states that the company is growing its global presence, steadily increasing its market share over the past few years. In the second quarter of 2022, the company claims that it now accounts for 21.7% of all smartphone shipments in Europe, ranking second, overtaking Apple in third and behind Samsung in first.
Worldwide, Xiaomi ranks in the Top 3 of 55 global markets in smartphone shipments for Q2 2022, and in the Top 5 of 67 global markets in smartphone shipments. Xiaomi corporation claims that it has recorded quarter-on-quarter market share growth in the Middle East, Europe, Latin America, Southeast Asia and Africa in the second quarter of 2022. In terms of revenue, Xiaomi has announced that its overseas revenue they now account for 48.4% of the company’s total revenue, meaning almost half of the company’s total revenue now relies on its operations outside of China, reducing its reliance on the domestic market. In the second quarter of 2022, the company recorded RMB 34 billion (€4.98 billion) of overseas revenue in a single quarter. In terms of global brand recognition, in August 2022, Xiaomi was included in the Fortune Global 500 list for the fourth year in a row and ranked 266th, advancing 72 places from 2021. And Xiaomi is strongly increasing investment in R+ D to establish itself as a premium brand in the market, as evidenced by the announcement of both the Xiaomi 12S Ultra and Xiaomi Mix Fold 2, as well as the recent partnership with Leica.