Chinese tech giant Xiaomi has achieved a significant milestone, displacing Apple as the world’s second-largest smartphone manufacturer in August 2024. This feat marks Xiaomi’s return to the coveted spot since August 2021, according to data from Counterpoint Research.

Xiaomi’s strategic focus on streamlined product offerings has paid off, driving growth across key markets. The company’s Redmi 13 and Note 13 series have been instrumental in capturing market share in India, Latin America, Southeast Asia, and the Middle East and Africa. By concentrating on “hero models” in each price segment, Xiaomi has successfully appealed to budget-conscious consumers.

The timing of Xiaomi’s achievement is noteworthy, coinciding with Apple’s traditional pre-new iPhone launch slump in August. However, analysts predict that Apple’s latest iPhone 16 series may struggle to reclaim the second spot. Xiaomi’s remarkable performance in 2024 has seen the brand dominate India’s smartphone market, with a 23% increase in shipments in Q2.

As Xiaomi continues to innovate and expand its global footprint, its ascent to the second spot underscores its commitment to delivering affordable, high-quality smartphones. With its sights set on sustained growth, Xiaomi is poised to remain a major player in the ever-evolving smartphone landscape.