NEW DELHI: Global smartphone brand Xiaomi, which has dominated smartphone sales in India for 17 straight quarters, is rapidly losing market share in India, having lost 8% of market share since Q1 2020 due to increased competition and supply chain bottlenecks.

According to Counterpoint Research data, Xiaomi has a healthy 29 percent market share in the extremely competitive India market in Q1 2020.

Since then, the graph has been slowly but surely declining, and according to the most recent data from market research firm Canalys, Xiaomi had a market share of 21% in Q4 2021 (the festive quarter), a staggering 8% drop from Q1 2020.

According to Canalys, the corporation maintained its advantage in Q4 2021, delivering 9.3 million units in the country.According to industry observers, Xiaomi has been affected by component shortages in the mass-market, entry-level segment, where rival brands are fast gaining with the help of Unisoc, a new chipset player.

Apple doubled its market share in India in 2021, thanks to expanded domestic manufacturing, aggressive retail activities, and strong consumer demand, in the premium class where Xiaomi is seeking to gain a foothold by selling top-of-the-line smartphones.

Growth is highest in 11 years in South Korea's economy

ICICI Bank's Q3 results show a 25 pc increase in net profit

BioAsia 2022 will place a premium on the industry's future readiness