The Chinese companies keep on launching new phones in the smartphone industry and are displaying no symbols of slowing their pace down. Worldwide smartphone shipments increased 3% in Q2 2017 as compared to last year with Chinese companies now acquiring a 48% of share in the smartphone market globally. This data was obtained from a new report.
Speaking of the development of Chinese companies, experts claimed to the media in an interview, “Chinese companies have been victorious in not only strengthening their places in their home town, but at the same time also managing to grow further than Mainland China. Most of these companies took offline as the main channel policy to make an entry in the new markets. In addition to this, they have supported their channel strategies with antagonistic marketing investment in both below-the-line and above-the-line campaigns. This has made them easy to get to the partners, comprising operators in new countries.”
Forecasting their growth, experts further said, “These companies will carry on to grow their reach further than China throughout the H2 of this year. South Asia, India, and Africa will be the main targeted geographies to boost supplementary market share and scale. The regional diversification will also assist offset any confusion in the local China market, which is more and more saturated.”
As per the report, Xiaomi came out as the fastest developing brand as compared to last year (+60%) exceeding Oppo (+33%) and Vivo (+45%). Oppo and Vivo were the fastest developing companies in the last quarter. Xiaomi was successful to sell 23.2 Million handsets, incarcerating 6.6% share in Q2 2017 of the global smartphone market. As per the report, the main reason behind comeback of Xiaomi can be credited to sturdy demand for its new flagship Mi 6 and low tier smartphones including Redmi Note 4X.
Lately, the report also revealed that Vivo and Huawei have developed the fastest in the smartphone sector in Q2 2017 in their home town China, in terms of growth as compared to last year. Xiaomi and Oppo follow the leading two brands. The leading 4 Chinese brands now cover around 69% of the market.