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Xiaomi Posted Strong Growth in Q4 2019, Driven by Overseas Expansion

by Yiwen Wu | 2月 12, 2020

Xiaomi posted a strong result in Q4 2019 with +27% YoY growth rate, and it strengthened its position as the world 4th largest smartphone vendor by volume, right after Apple, Samsung, and Huawei.

Xiaomi continued its expansion across all the regions. In Asia Pacific, its decline in home market was offset by its strong growth in other countries like India. In Western Europe, it grew three-fold thanks to the extended partnership with major carriers in the region. In Central Eastern Europe, it pushed into the top 2 list for the first time ever, tied with Huawei. In Central Latin America and in Africa Middle East, it made progress as well though the volume remained small.

Xiaomi refreshed its female-oriented CC 9 Pro series (aka Note 10 series in overseas market) and K30 series in China in Q4. CC9 Pro is a 4G product line-up with fantastic camera setup but a modest chipset. K30 5G is a powerful 5G model with strong cost-to-performance ratio. Xiaomi is about to announce its 10-year anniversary flagship model Mi 10 series in February via online platform. Same as its predecessor, the new flagship model will feature the latest and tier-one components available in the market. However, it remained to be seen how Xiaomi is going to price the new model and when the new model is ready for mass shipments.

Though Xiaomi is likely to be less impacted by coronavirus in China than other Chinese vendors, we expect the vendor will still post double digit decline in home market in 2020. We believe its gains in overseas will offset its loss in home market. Western Europe will be the key, if the vendor can continue to deepen its partnership with major carriers in the region. We expect Xiaomi is well-positioned to displace Huawei being the third largest smartphone vendor in Western Europe market this year.

Our latest report Q4 ’19: Xiaomi: Western Europe as New Growth Engine was published. WSS client could access the full report via this link.

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