Xiaomi is notably one of the fastest growing startups in the world. Often regarded as the Apple of China, it dominates a huge part of the South Asian market. However, reports from the of previous quarter paint a different picture. Industry reports show that Xiaomi no longer retains a dominant marketshare in the Chinese industry. Huawei, now exceeds Xiaomi in terms of market share in China.
The study was conducted by Canalys. According to the firm, Huawei's 81 percent increase in sales has put it ahead of Xiaomi, which held the top position for the previous quarters. While, the report made after a study conducted by Canalys is not yet available, there is still no knowledge regarding marketshare of companies like Apple or Samsung.
The report reveals that Xiaomi has sold around 61 million smartphones in China in 2014. The company has set a goal of 80 million smartphones for this year reduced from the earlier target of 100 million. The company is still struggling to retain its market share owing to growing competition in the mobile space.
Huawei received a setback earlier this year when it was banned from selling networking devices to the US government. The company has recently bounced back with offerings in consumer electronics like the Nexus 6P.
Xiaomi has been trying to grow in global markets and trying to expand outside its soil, losing its hold in home ground. This may be a reason for losing its top position as a smartphone brand in the Chinese market.