Chinese smartphone giant Xiaomi said today that it sold 27.5 million smartphones in the first quarter of 2019. But the reason it revealed this figure is perhaps the more interesting story.
As you may have seen, the researchers at IDC this week posted their latest smartphone marketshare report. In that report, IDC estimated that Xiaomi shipped 25 million smartphones in the quarter, a drop of 2.8 million units, or 10 percent, when compared to the same quarter a year earlier.
I usually wait on Gartner to deliver its own estimates before I write up my quarterly smartphone marketshare news story, because I average that firm’s numbers and IDC’s in order to get a fairer look at the industry. Each firm uses its own methodology to estimate unit sales when the companies in question don’t provide hard numbers. And their estimates often vary markedly.
In any event, Xiaomi issued a filing with the Hong Kong stock exchange citing this “inaccurate and unfair” estimate. And it says that its unit sales have not fallen YOY. That said, Xiaomi’s unit sales in its home market of China have fallen precipitously, by more than 34 percent, in the past year. But a 28 percent gain in India, thanks to its inexpensive Redmi lineup, has made up the difference.
A report in the South China Morning Post claims that Xiaomi’s disclosure was made to calm investor fears about a slowing smartphone market. Apparently, the firm has lost one-third of its market value since it filed for an IPO last year.
Xiaomi hopes that a renewed emphasis on the Chinese smartphone market, its AI prowess, and the move to 5G networking will jumpstart sales moving forward.
Tagged with Xiaomi