According to a research by Counterpoint's Market Monitor service, the Chinese electronics and software company Xiaomi has set another milestone, as it became become the fifth largest smartphone brand in Russia during Q3 (the third quartile) 2017.
"Xiaomi grew by 325 percent YoY and was the fastest growing smartphone brand in Russia in both online as well as offline sales," the Associate Director at Counterpoint Research (Counterpoint Technology Market Research), Tarun Pathak said in a statement.
Minakshi Sharma, Research Associate at Counterpoint Research (Counterpoint Technology Market Research) has said, "The Russian handset market grew during this quarter driven by aggressive marketing campaigns by new Chinese brands and subsequent price cuts from all the leading retail chains as consumer spending during third quarter of the year normally remains high due to the new academic year and a 'back-to-school' uptick."
According to year over year (YoY) analysis, the online contribution to sell a smartphone to a customer has grown from 12 to 15 percent in Russia and Xiaomi and Apple became the top leading brands in online sales.
"Apple reached record sales during the third quarter, growing 56 percent YoY due to a drop in the prices of its previous generation iPhone models, prior to the launch of the new iPhones," said Pathak.
Xiaomi, Bright and Quick and Huawei were the fastest growing Chinese brands YoY. However, local smartphone brands like Tele2 and Prestigio grew by 61 percent and 54 percent quarter on quarter (QoQ)respectively.