In 2023, China's smartphone market is facing a sharp decline in shipments, with annual shipments of about 27.1 billion units, the lowest level in nearly 10 years. In this market environment, Xiaomi's mobile phone shipment ranking in the fourth quarter of 2023 fell out of the top five, which is undoubtedly a big blow to Xiaomi.
2024 Travel Guide
Xiaomi has been pursuing a premiumization strategy, which may lead to a reduction in its investment in the low-end market. This strategic adjustment may have a certain impact on its share of the traditional advantageous market. After all, Xiaomi has accumulated a large user base and market share in the past by virtue of its competitive advantage in the low-end market.
In addition, the global chip shortage has also had a big impact on Xiaomi's production and sales. As a global mobile phone manufacturer, Xiaomi needs to purchase chips from multiple ** manufacturers, but the chip shortage has led to an unstable situation in its ** chain, which has affected the production and market time of the product.
However, some netizens think that Xiaomi's performance is already quite good. Xiaomi, which mainly relies on an online sales model, has achieved the third place in the world, which shows that it is still competitive in the international market. In the domestic market, Xiaomi is also under pressure due to fierce competition and low profits. Therefore, for Xiaomi, how to adjust its strategy to cope with changes in traditional advantageous markets and global chip shortages while maintaining its online sales advantage will be the key to its future development.