Xiaomi Should Fear These 3 Chinese Competitors. Ranked 468th, Xiaomi was the most youthful organization on Fortune Global 500 List of 2019. Xiaomi is a Chinese electronics company with its headquarters situated in Beijing China but operating worldwide in terms of designing, manufacturing, and selling smartphones, laptops and other electronics. An Important Business Analysis Tool, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. They incorporate their innovation strategy in terms of their marketing as well. Huami is rolling into 2021, primarily focusing on two directions - 'healthcare' and the 'Chinese consumer market' - which are projected to become the company's key drivers. What is a competitor analysis? It is the highest number for any brand to date. The company perceives the sales of hardware as a means to deliver software and services in the long-term perspective. Besides this, Oppo and Vivo have a strong offline presence and have huge distribution network. Samsung Group has a huge product line i.e. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Xiaomi Corp ADR does not affect the price movement of the other competitor. Warren Buffett vs. Cathie Wood: Where Would You Rather Invest? Competitor analysis proactively examines your competition to see where the market is going. The internet technology company uses mono-segment positioning, appealing to the needs of a single customer segment. Xiaomi was founded by a Chinese entrepreneur named Lei Jun in 2010 with its headquarters located in China. According to the stats of 2015, Xiaomi is ranked as the fifth largest smartphone manufacturing company in the world. The Motley Fool recommends Cirrus Logic. Retrieved July 16, 2017, from https://www.fool.com/investing/2016/08/18/xiaomi-should-fear-these-3-chinese-competitors.aspx, Designed by Elegant Themes | Powered by WordPress. This information should then be used to improve your company's marketing efforts and take the advantage. Here you can compare Xiaomi against its competitors across multiple fundamental and technical indicators. But opting out of some of these cookies may have an effect on your browsing experience. The electronics and software company has even earned the nickname Apple of the East due to its close imitation of Apple products and Apple product presentation. In this SWOT analysis, we're going to take a look at the Strengths which make Xiaomi such a powerful player in the tech space. The threats in the SWOT Analysis of Xiaomi are as mentioned: 1. Much of that growth was fueled by its consumer device business, which sells smartphones and tablets. The opportunities for any brand can include areas of improvement to increase its business. Huawei is the third largest mobile equipment vendor inthe world with a 20% share, and also its third largest smartphone vendor with an 8% slice of the market. But over the past three decades, Huawei expanded into telecommunications equipment, consulting services and equipment for enterprise customers, and mobile devices. ET Vivo's shipments jumped 75% to 14.7 million, helping it claim 13.2% of the market. Retrieved February 6, 2018, from http://www.china.org.cn/opinion/2015-04/13/content_35307226.htm Sederhananya, untuk mengetahui SWOT(Strength-Weakness . associated with market volatility, economic swings, and company-specific events. Learn More. 2. In terms of offering, similarity in storage space and connectivity options. Indian market is a cash bleeding battleground for brands. According to its business strategy, Xiaomi fosters, develops and encourages its fans via Mi Fan Festivals that involves discounts and gifts. Include latest OS with regular updates. Please note, it is not enough to conduct a financial or market analysis of a single entity such as Xiaomi Corp. PESTEL analysis is a widely used strategic planning and management tool. It has to be an essential part of your marketing plan. Competitive Analysis. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Xiaomi is listed on the Hong Kong Stock Exchange, which shows its strong financial position, 6. Cendrowski, S. (2017, January 24). Increasing competition can affect the margins for the brand, 2. The idea behind it was to provide innovative solutions for everyone. Xiaomi should analyze the labour demand and supply trends to understand how workers with the required skills set could be successfully recruited. 4. The motto of the company is Just for Fans and the company is also known to recruit its new employees among Mi Fans. Date: November, 2016. According to Canalys research report, in the Q3, 2018, Xiaomi's market share was 29.8% with an annual growth of 31.5%. Samsung 9. Lower smartphone capabilities and functionalities compared to major competitors such as Apple and Samsung 3. Xiaomi's latest financial numbers fully demonstrate the impact of the global smartphone market downturn in Q2 2022. Both devices run on an Octa-Core processor and an Adreno 650 GPU for the graphics. Xiaomi Corp's competitive analysis is the process of researching and evaluating its competitive landscape. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. So in case of Xiaomi, it is facing low threat from new entrants into this industry. Xiaomi business strategy can be classified as cost leadership. associated with market volatility, economic swings, and company-specific events. Upgrade to remove this ad. With a market like China, Xiaomi has been successful in providing the kind of innovation with their cameras and other software features that no other competitor has. Huawei wasn't the only Chinese smartphone maker to surpass Xiaomi last quarter. It is often called as the Apple of China. Huawei's revenue rose 37% to 395 billion yuan ($59.6 billion) last year as its net profit grew 33% to 36.9 billion yuan ($5.8 billion). MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. The annual growth rate was 12.3% and 2.0%, respectively (Fig. With its expansion and distribution in other countries in just seven years, Xiaomi is now available in almost 30 countries around the world with a vision to become a global brand in the future. It takes into account all positive and negative factors that affect the firm's success, both inside and outside the company. The Dongguan-based company initially manufactured MP3 and MP4 players before pivoting toward mobile. While that doesn't mean that the P9 can match the performance of a pricey Leica camera, it gives it luxury appeal -- something that Huawei is heavily emphasizing with a high-budget ad campaign starring Scarlett Johansson and Henry Cavill. Smartwatches Market Share, Size, Industry Trends, Competitor Analysis and Forecast 2022-2030 Published: Feb. 21, 2023 at 5:34 a.m. 4 ). Smartphone and electronics industry is very competitive as there are many major players in this industry who have worked for years to build up on their brand image and they are competing on different factors including price, quality, consumer needs, and brand loyalty. It first established an overseas presence in Thailand, then throughout Asia, the Middle East, and Africa -- resulting in nearly 20% of its sales coming from outside of China in 2015. It has been reviewed & published by the MBA Skool Team. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Xiaomi can expand & diversify further in different consumer electronics products, 2. With all these innovative strategies that they have followed, they are able to become a success and enter many new markets in just a few years and it is quite clear why they stand out in front of other competitors in the market. Xiaomi's main competitors in China are Huawei, Vivo and Oppo whose 2020 market shares on the Chinese market are 30%, 18%, 16% respectively with Xiaomi coming in fourth with 13% (Counterpoint, 2021). Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). The company continues to increase its hold on the domestic market by an average of six percent every year. [2] The ecosystem produces ever-increasing range of products ranging from smartphones to rice cookers. 03925319, Artificial Intelligence: Leading Technology Companies, Cybersecurity: Leading Technology Companies, Electric Vehicles: Leading Technology Companies, Strategic Alliances Announced in Last 12 Months, Special Purpose Acquisition Corps. Xiaomi has a large fan base involving millions of people across the globe. At this point we can't talk about many smartphone competitors, Well, phones like the Samsung Galaxy S22, the iPhone 14, the OPPO Find X5 or the top of the range from Motorola, are actually direct competition from the Xiaomi 12 launched last year. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Xiaomi Corp does not affect the price movement of the other competitor. Xiaomi is now a serious competitor in both the mobile phone and Smartphone industry. A correlation of about +1.0 implies that the price of Xiaomi and its corresponding peer move in tandem. According to a survey, Xiaomi sold 119 million smartphones in 2018. [1]According to Cross Cultural Consumer Characterization by Young & Rubican, Interpretivism (interpretivist) Research Philosophy, Segmentation, Targeting & Positioning (STP), Bachelor Stageyoung, single people not living at home, Hard core loyals Soft core loyals Switchers, Easygoing, determined and ambitious personality types, non-users, potential users, first-time users and regular users, Lower class, working class and middle class, Struggler, Mainstreamer, Aspirer, Explorer. *Average returns of all recommendations since inception. Microsoft 6. Impressive growth rate 3. Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Xiaomi can consider following factors when developing the customer profiles: The customer analysis must identify the total market size including current and potential customers that could be divided into small measurable segments. Motorola Moto 2. Share. For instance, they use their innovation feature to introduce innovative products other than just phones. The company continually adapts existing and new products in the mobile phone market. Tony Chen founded Oppo in 2001. Xiaomi has many competitors with Samsung being the largest of them and the nearest toughest competitors are: Lenovo (Motorola including) with 9.6%, Micromax (with 7.5%). Micromax. Intense global competition means lower market share growth, 2. devices. So it is important for brands like Xiaomi to retain the loyalty that their customers show for them. Samsung market share was 23% with a negative annual growth of 1.6%. Xiaomi - statistics & facts Since its founding in 2010, Xiaomi has rapidly risen to the top of the ultra-crowded Chinese technology market and now counts itself among the leading consumer. Lenovo 3. 's shipments surged 124% to 18 million, which boosted its share from 7.6% to 16.2%. Moreover, the report contains analyses of Xiaomi leadership, organizational structure and organizational culture. Discover information and data insights on Xiaomi Inc's key competitors and market peers. View xiaomi Competitive companies.docx from FINANCE 501 at Lovely Professional University. More than 20,000 people are employed with the company, 4. Through these apps, they have developed a very strong network of users who are also loyal to the brand. One of the biggest smartphone and appliances brand, People looking for high quality consumer electronics. Xiaomi Corporation is a Chinese gadget manufacturer established by Lei Jun in 2010 and headquartered in Beijing. The threats for any business can be factors which can negatively impact its business. Motorola Moto2. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Hence this concludes the Xiaomi Redmi SWOT analysis. This category only includes cookies that ensures basic functionalities and security features of the website. Xiaomi's Marketing Management: Product, Price, Brand Positioning and Competitor Analysis Essay MI's product range is huge which comprises mobile phones, smartwatches, tablets, smart TVs, power banks etc. Quizzes test your expertise in business and Skill tests evaluate your management traits. Within China, Oppo focuses on lower-tier cities which were overlooked by larger OEMs. According to Fortune Tech, Huawei is currently at number three rank in the global market. How Chinas Smartphone Big Four Are Fighting for Global Customers. The kind of innovation that Xiaomi offers through its products is something that counts as their competitive advantage. Xiaomi says the glasses can convert to a fully dark mode wherein they block most light, allowing you to focus on the video or application you're viewing. The mission of Xiaomi is "to let everyone in the world enjoy a better life through innovative technology." Xiaomi Revenue : RMB 328.3 billion - FY ending 31st December 2021 (y-o-y growth of 33.5%) RMB 245.9 billion - FY ending 31st December 2020 Competitive Analysis of Xiaomi SWOT PESTLE The SWOT analysis of Xiaomi is presented below: The brand can continue focusing on geographic expansion. The top 10 competitors average 59.1B. Competitive Market Analysis of Xiaomi Smartphone The international market has become very attractive to most Xiaomi Inc. Report contains a full analysis of Xiaomi business strategy. Retrieved February 6, 2018, from https://www.mi.com/in/about/ Xiaomi's market share was 16% in Q2 2021. Whirlpool 10. The company faced legal challenges in operating in different countries due to some laws in the particular country. Xiaomi, which overtook Samsung as China's top smartphone maker in 2014, recently lost that title to its domestic rival Huawei. Nokia A correlation of about +1.0 implies that the price of Xiaomi and its corresponding peer move in tandem. Dual SIM 4G support , powered with 1GB RAM and 8GB onboard storage, 3. Let us start the Xiaomi SWOT Analysis: For Xiaomi, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Xiaomi practices design as you built philosophy, incorporating Mi Fans feedback in a constant manner at all stages of new product development. Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Ranked 468th, Xiaomi fosters, develops and encourages its Fans via Mi Fan Festivals that involves discounts and.! Boosted its share from 7.6 % to 18 million, helping it claim %! Incorporating Mi Fans Adreno 650 GPU for the brand, untuk mengetahui SWOT ( Strength-Weakness run on an processor... 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