Image Credit source: Xiaomi
If you are interested in things related to smartphones, then this news is for you. If it is about your smartphone company, then the news becomes more special. Facing investigation into the violation of foreign exchange law, the reign of Xiaomi remains intact.
If you are interested in things related to smartphones, then this news is for you. If it is about your smartphone company, then the news becomes more special. Now coming to the point. The reign of Chinese company Xiaomi, which is facing scrutiny for violation of foreign exchange law, may continue in the second quarter as well. This is what the market experts have guessed. However, some companies can snatch this crown in the third quarter.
Let us understand the matter in a little detail. According to the news published in ET, data from Counterpoint Research says that Xiaomi had a 23 percent market share in the March quarter. Even though the company’s shipments declined by 13 percent compared to a year ago. Here, Samsung retained the second position with a 20 percent share despite a 1 percent drop in shipments. So at the same time, Realme made a strong penetration in the market with 16 percent share, which was 11 percent in the first quarter of 2021.
Faisal Kawoosa, Founder and Chief Analyst, TechArk, said that if Xiaomi, Redmi and Poco are split as separate brands in the June quarter, Samsung could lead the market with a 5-6% market share, But by combining all three, Xiaomi will overtake Samsung. There will be no change in Xiaomi’s current top position in the June quarter, but low demand could have an impact.
Xiaomi registered an increase of 24% in the average sale price. At the same time, Samsung had a 38% stake in March 2022. Now let’s talk about the management of Xiaomi India. Recently, Xiaomi announced a change in the Indian leadership team. In this, Founding Team Member of Xiaomi Global, Founding Member of POCO, Alvin, former General Manager of Xiaomi Indonesia, will be seen in the role of General Manager of Xiaomi India.
The company has taken this step after the recent change in the post of Manu Kumar Jain. He has been entrusted with the responsibility of international strategy including Global Marketing and PR as Group Vice President. The move comes at a time when the company has been accused by the Enforcement Directorate for violating the Foreign Exchange Act. The ED passed an order to confiscate over Rs 5,551 crore of Xiaomi India’s funds, which was stayed by the Karnataka High Court.
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