Xiaomi the Chinese manufacturer has shown strongest growth in the last 3 years which is up by 116% in Q1 of 2018 before filing the IPO.
The smartphone market has shrunk globally during the first quarter of 2018 with global shipments down by 3.4 percent, despite that Xiaomi posts strongest growth figures of all time. According to the research data published by Canalys, Samsung’s year-on-year growth was declined by 0.6 percent, similarly, Apple & Huawei witnessed 2.9 percent and 13.8 percent year-on-year growth respectively. However, Xiaomi was the winner, in this case, Xiaomi witnessed 116% growth beating everyone on the list.
Xiaomi crossed 25 million shipments in 2018, whereas the company only had 15 million shipments in 2015, the Chinese manufacturer added 10 million more global shipments in just 3 years which is quite remarkable for the company and raises eyebrows of its competitors.
The company has just become the fourth largest mobile manufacturer in the last year, but the company was unable to achieve its targets which were eyed a couple of years ago, Xiaomi had plans to hit the target of shipping 100 million units in 2018 which also seemed unrealistic at that time, however, the company has performed quite well as compared to its competitors. The global downturn in smartphone shipments also hindered Xiaomi’s plans to reach 100 million units.