Xiaomi continued its growth especially outside of China. Xiaomi’s overseas performance was an impressive +65% YoY by volume, India taking lion’s share of that growth. One notable region that is growing relatively well is Western Europe where Xiaomi first appeared in Q4 2017 and is now growing at +60% QoQ rate threatening established vendors such as Huawei, Samsung and Wiko etc.
Xiaomi also launched its sub brand (POCOPHONE) in the quarter and met with encouraging result. While its Redmi series dominates the entry and mid-price tier, we expect Xiaomi to strengthen its position in the higher price tiers via POCO. Xiaomi will bring POCO to more overseas market this year.
Xiaomi’s overseas expansion plan is finally working and Xiaomi is solidifying its position as global TOP5 vendor. However, there are challenges ahead it needs to acknowledge and well prepare.
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