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Mobile Phone Shipment Declines 33%, Xiaomi Loses Domestic Market

2019-11-01 08:23:05 Source: First Financial Report 0 Yixin WeChat qq Space Microblog More Xiaomi Group (01810.hk), which has just been incorporated into Hong Kong Stock Connect, encountered the news stimulus brought by the latest report on China's smartphone market (mainland market) before it could enjoy any significant benefits.  On October 30, global research organization canalys released the latest data, showing that the shipments of China's smartphone market rose slightly to 97.8 million units in the third quarter of this year from 97.6 million units in the second quarter, down 3% from the same period last year.  In addition to Huawei, several other mobile phone manufacturers have seen their share fall by no less than 20%, of which Xiaomi's market share fell from 13.1% in the third quarter of 2018 to 9% in the third quarter of 2019, with shipments also falling 33% year-on-year, the biggest drop of all mainstream mobile phone manufacturers.  In the face of Xiaomi's mobile phone, which has suffered the biggest drop, Yan Zhanmeng, research director of counterpoint, told First Financial and Economic Correspondent that the main reason for the serious decline in Xiaomi's mobile phone domestic market is the aggressive and powerful competitors, and Huawei has already become the main force in the mobile phone market with a price of more than 2,000 yuan.  The Chinese market is a very cruel one. Manufacturers must constantly update and upgrade their products to survive, even Apple.  The improvement of mobile phone quality has also increased their service life. Therefore, it is very difficult for China's smart phone market to grow this year, and the survival of small and medium-sized brands has become more difficult.  At the same time, Yan Zhanmeng said that the serious decline in Xiaomi's domestic market share is not entirely his own problem. Its business models, including Xiaomi Direct Store and Xiaomi online, have done well, mainly due to factors such as the environment and competitors.  Compared with the decline in the domestic mobile phone market share, Xiaomi's mobile phone has achieved slightly better results in overseas markets.  Counterpoint report shows that Xiaomi's market share in India was 26% in the third quarter of 2019, ranking first for nine consecutive quarters.  Xiaomi Group reported in the second quarter of 2019 that Xiaomi's total income in the first half of the year was 95.71 billion yuan, up 20.2% year on year.  Among them, Xiaomi's overseas market revenue reached 38.6 billion yuan, up 33.8% year-on-year, accounting for over 40% of the total revenue.  At the same time, Xiaomi continues to expand its overseas offline distribution. As of June 30, 2019, there are 520 authorized stores in overseas Xiaomi House, of which 79 are in India, and India already has 1790 mi store focused on cities at all levels.  Canalys analyst Jia Mo said Huawei's overseas shipments reached 76 million in the first three quarters of 2019. Xiaomi gradually overtook Huawei's overseas shipments in the second and third quarters, with a difference of less than 1 million in the second quarter and less than 2 million in the third quarter.  Yan Zhanmeng told First Financial and Economic Reporters that Xiaomi is bullish in overseas markets mainly because it occupies the bonus of upgrading smartphones in overseas emerging countries and drives sales volume by continuously expanding emerging markets in overseas countries.  Yan Zhanmeng said that Xiaomi 4g mobile phones have little chance in the Chinese market at present. On the one hand, future opportunities include innovations in 5g applications, such as video, live broadcast, vrar, etc.  The second is the continuous expansion of Xiaomi 4g mobile phones in overseas markets.  However, Xiaomi, the latter, is not without rivals. Industry manufacturers are all aware of the dividend space in overseas markets.  Counterpoint data show that by the third quarter of 2019, vivo and realme had market shares of 17% and 16% respectively in India, with year-on-year increases of about 10%.  Since entering India in 2014, Xiaomi mobile phones in the market are mainly red rice mobile phones with an average price of less than 1,000 yuan, with limited actual profit margin.  FTU Securities analysts told First Financial Reporters that Xiaomi's dividend in the 4g mobile phone era has gradually disappeared, and the next 5g is both an opportunity and a challenge for Xiaomi.  Earlier, in Wuzhen world internet conference, Lei Jun announced that he would introduce more than 10 5g mobile phones. This shows that Xiaomi wants to quickly seize market share through a cost-effective strategy in the early days of 5g mobile phone popularization, which is also a strategy Xiaomi has always been good at.  In addition, the analyst said that Xiaomi's card position for 5g mobile phones is not only as simple as seizing the market share of mobile phones. aiot has always adhered to Xiaomi's strategy. Xiaomi's greatest opportunity in the 5g era lies in the more efficient data connection between 5g mobile phones and other smart products of Xiaomi, providing users with better experience opportunities. Of course, Huawei's layout of 5g and Internet of Things is still its greatest challenge in this process.  Peng Luping, global vice president of canalys mobile services, said that Huawei's current market position will be further consolidated in the 5g era, given Huawei's close relationship with operators in the deployment of 5g networks and its control over key components such as 5g chipsets compatible with local networks.  This has put great pressure on oppo, vivo and Xiaomi. It is very difficult for them to make market breakthroughs.
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