South Korean Electronics giant, Samsung which has been holding the Top rank in Smartphone segment in India for the last six years, has lost the crown to Chinese company, Xiaomi.
According to the data released by two tech research firms, Xiaomi outsold Samsung in the final quarter of 2017. With a market share of 25 percent in the fourth quarter based on shipments, Xiaomi reportedly pipped Samsung which just falls behind with 23 percent market share in India. Lenovo, Oppo and Vivo lag far behind with each having about 5-6 percent market share.
Market analysts said that Samsung lost the cost-conscious buyers, sub-15,000 rupee segment to Xiaomi which offered high-end specs at moderate price.
Xiaomi’s success is India, the second largest smartphone market after China, is a sensation as the company entered India just over three years ago. The Chinese company is now valued at close to $100 billion.
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