In August of this year, Xiaomi overtook Apple to become the second largest smartphone brand in the world, according to a new report by Counterpoint Research.

Xiaomi's smartphone sales remained stable in August 2024, while Apple's saw a seasonal decline over the same period. From 2022 to the first half of 2023, Xiaomi mobile phones faced difficulties in the supply chain (as did other manufacturers), but the company adjusted its product, sales and distribution channel strategy, thanks to which it achieved this result.

Counterpoint Research noted that in the first half of 2024, Xiaomi became one of the fastest-growing brands, with sales increasing by 22% year-on-year. Growth may slow in the second half of the year, but Xiaomi is still expected to post double-digit growth through 2024.

"In addition to focusing on creating a flagship model in each price range, to successfully enter the high-end market, it has also launched competitively priced 5G devices that have enjoyed strong sales in India, Latin America, Southeast Asia, the Middle East and other countries," Counterpoint said. Research Director Tarun Pathak.