Q2 2024: Xiaomi: Solidified No. 3 Position with Robust Shipment Growth
Xiaomi achieved a 27% YoY growth in shipments for Q2 2024, marking its fourth consecutive quarter of expansion and boosting smartphone wholesale revenue.
Xiaomi posted a 27% YoY growth in shipments in Q2 2024, marking its fourth consecutive quarter of growth. This increase in volume, along with a rise in ASP, boosted the vendor’s smartphone wholesale revenue on the hardware side. Strong performance in China, India, South East Asia, Central Latin America, and Africa Middle East, offset its mixed results in Western Europe. However, due to economic uncertainties, intensified competition, and high inventory levels, we remain cautious about Xiaomi sustaining double-digit growth in the second half of 2024.
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