Canalys 2023 Q3 global mobile phone market report: Xiaomi's market share has risen for two consecutive quarters, and Q3 has achieved year-on-year and month-on-month growth
According to the 2023 Q3 global smartphone market report released by market research firm Canalys, the global smartphone market fell by only 1% in the third quarter of 2023. Among the top five global mobile phone brands, Samsung, Apple and OPPO all declined to varying degrees, only Xiaomi and Quan Yin achieved year-on-year growth in market share, taking the lead in benefiting from the global market recovery, of which Xiaomi ranked third with a 14% share, reaching the highest market share since 2021Q3.
It is reported that in 2023, Xiaomi has achieved two consecutive quarters of steady month-on-month growth in the global market (Q1 is 11.3%, Q2 is 12.9%). Among the top five mobile phone manufacturers in the world, Xiaomi has been in the top three in the world for 13 consecutive quarters. Continue to maintain the first and third leading position in the global market share of Chinese mobile phone brands.
The steady performance of Xiaomi Q3 demonstrates Xiaomi's resilience and effectiveness in adhering to the global strategic layout and actively participating in the global market competition. Canalys pointed out that Xiaomi quickly seized the rebound opportunity in the global market to provide competitive products and channel cooperation strategy, if it can successfully continue the strategy, it will become a sustainable growth opportunity in the future.
In addition, in terms of product layout, Xiaomi's high-end strategy has also made a phased leap, building a leading competitive advantage of high-end products. In August, Xiaomi released its new folding screen flagship Xiaomi MIX Fold 3, which sold 2.25 times as much as the previous generation in just five minutes, setting a new record for Xiaomi's flagship folding screen.
It is reported that Lei Jun, chairman of Xiaomi Group, posted a message on Weibo today that the official version of Xiaomi's new operating system, Xiaomi OS (Xiaomi HyperOS), has been sealed. As the first mobile phone with the new system, the Xiaomi 14 series has been delivered to the factory to begin production, and from now on, Xiaomi OS will gradually replace MIUI.
Xiaomi Group-W (1810.HK) rose nearly 4 per cent to HK $13.04 on the news, with its share price at its highest level since February.
"Xiaomi will achieve double-digit growth in mobile phone shipments in 2024, and 4Q23 and 2024 profits are expected to exceed market expectations." Guo Mingyi, an analyst at Tianfeng International, also said in a recent article that Xiaomi is already a world-renowned brand, and its global layout gives Xiaomi a competitive advantage over ordinary Chinese brands. Xiaomi's mobile phone business will grow faster than expected, and the automobile business will also have new opportunities in the future.
