Xiaomi loses its top position in India's smartphone market as sales slumped in Q4 2022
Xiaomi reported a decline in smartphone shipment in the fourth quarter of 2022, marking the 4th quarter-on-quarter decline in the year, according to a report from Strategy Analytics.
The smartphone manufacturer shipped 33.2 million units of smartphones globally in the quarter, a 26% decline from the previous year.
Xiaomi lost its top position in India's smartphone market, for the first time ever in the past twenty quarters as the smartphone maker faces strong headwinds in the market.
Xiaomi didn't fare any better in the China market either as it continues its falling track. Its share of the market fell by 4%.
The market intelligence group attributed the sustained decline in the year to the headwinds that the whole industry faced during the year including slowed consumer demand, lengthened replacement cycle, and Covid-related disruptions.
In addition, Xiaomi particularly suffered intensified competition in the android camp, management reshuffle and inventory corrections which dragged down its shipment performance significantly in the quarter, especially in India and China.
