Since the US banned Chinese tech giant Huawei in 2019, the company has had an uphill battle to remain in the smartphone business. Despite the ongoing restrictions, Huawei does continue to release new phones every year and markets these offerings to its shrinking consumer base.
Diversifying Into New Markets: Other Smartphone Companies Take Advantage of Huawei Losses
According to the story by Giz China, with Huawei losing millions of users worldwide, this has opened up the playing field for other competing smartphone companies.
Big players such as Xiaomi and Apple have been at the forefront of those benefiting most from Huawei's misfortune. Such brands have been able to pick up any share of the market lost by Huawei and expand to meet consumer demand.
Xiaomi's Successful Reversal of Huawei's Userbase Loss
As Huawei struggles to face the US ban, it has found itself in a tight spot. While the company can still remain in the smartphone industry, the situation could be better. It is unclear what the future may bring with the ever-changing international politics.
The announcement of Lu Weibing during Xiaomi Investment Day left the smartphone industry in shock. According to the statements, the China-based tech giant Xiaomi has successfully overturned the loss of 80 million user bases of Huawei, per Huawei Central.
Xiaomi's Increase in User Base: A Thriving Sign of Success
During the same period, Apple and Honor gained 20 and 10 million users, respectively. This sensational news of Xiaomi's user base growth comes with a strong statement to the industry.
The company has worked hard to seize the opportunity and keep up with the stiff competition in the market. Xiaomi has unveiled attractive smartphones at competitive prices to appeal to a larger customer base, backed by strong hardware specs and performance.
A New Player in the Market: Xiaomi's Rise to the Top
This shows that Xiaomi is a company to look out for as it gradually continues to make its mark in the market. With a combination of affordable, reliable, and efficient devices, Xiaomi has made a name for itself among customers.
It's no secret that the smartphone industry saw a sharp decline in 2022, and much of the blame is attributed to a combination of currency depreciation, chip shortages, and increased competition. Every major phone maker felt the effects of this downturn, with only Apple and Samsung managing to maintain growth.
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The Impacts of Global Smartphone Shipment Declines in 2023
Chinese handset giant, Xiaomi, was not exempt from the struggles, and its spokesman Lu explained the reasoning behind the downtrend. The conditions throughout the smartphone industry are expected to remain dire in 2023, with global smartphone shipments set to drop 12%.
China will be hit especially hard, as shipments within the region are estimated to decline by 13%, per CNMO. The entire situation begs the question of where consumers will turn when there's a gap to fill, such as the one left in the market when Huawei was banned from the US consumer market.
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