Xiaomi becomes the fastest growing smartphone vendor in Sri Lanka in Q1 2019: Counterpoint Research

 

Xiaomi, global technology leader has become the fastest growing and the third largest smartphone brand in Sri Lanka  as per Counterpoint Research Market Monitor 2019, Q1 2019.  Xiaomi is the only brand to have witnessed phenomenal growth of over 100% Year on Year growth and enjoys a 10% market share in Q1 2019. 

 

All smartphone brands in Sri Lanka witnessed either negative growth or no growth YoY whereas Xiaomi was the only brand to grow exponentially and achieve a 100% YoY growth and a 34% QoQ growth.

 

Sri Lanka Shipment Market share	Q1 2018	Q2 2018	YoY growth
Samsung	41%	33%	-19.6%
Huawei	20%	20%	0%
Xiaomi	5%	10%	100%
OPPO	6%	8%	25%
Nokia HMD	8%	5%	-37.5%
Others	19%	24%	NA

 

 

Vidya Sagar, General Manager - Sri Lanka, Xiaomi India said, “When we entered the market - we made four promises of delivering innovative products, ensuring honest pricing, a robust after sales network and building a local team. We have worked really hard on all these aspects and I am very grateful to all our Mi Fans who showed their faith in the brand and have been able to help us become the fastest growing smartphone brand in the island. Product is at the core of Xiaomi’s strategy, and a strong line-up of products with distinctive technological innovations has played a critical role for us in this market. We are committed to sustaining the momentum and will continue to launch amazing products here in Sri Lanka.”

 

Sri Lanka’s smartphone market grew by 11% YoY and Xiaomi’s growth this quarter had a significant contribution in the same. Xiaomi entered Sri Lanka in Nov 2018 and has since disrupted the smartphone industry with its high-quality devices.The company recorded over 100 million smartphone shipments globally last year upholding its commitment to provide innovative technology at an honest pricing.