In Bangladesh's smartphone market, Xiaomi captured the top spot for the first time with a share of 28.8% and 134% YoY growth for Q2 2022.
According to a recent report by Counterpoint's Market Monitor Service, Samsung and vivo respectively settled in the second and third positions, said a press release on Thursday.
Counterpoint's Senior Analyst Karn Chauhan said, "Xiaomi's growing offline presence, well-developed local manufacturing facility, and a wide entry-level portfolio with features like larger display size, huge battery capacity, and improved camera helped it to reach the top spot."
"Eid festivities also helped Xiaomi drive significant volumes. Going forward, the brand will continue to focus on offline expansion and add more features to the entry-level segment," he added.
"Samsung's newly added budget smartphones, as well as their consistent performance in the entry- and mid-price levels, propelled the brand to second place with a 17.3% market share and a 65% year-on-year growth.Samsung's active promotions and marketing helped it remain in the top three despite falling from its first position in Q1 2022. vivo took third place with a 10.1% share driven by its strong omni-channel presence and ability to target a range of entry- and mid-level price bands," Karn Chauhan added.
Commenting on the market dynamics, Chauhan said, "Bangladesh's smartphone market experienced a good start with Eid celebrations during April. The month contributed almost half of the quarter's total shipment volumes. However, the volumes declined adversely in May and June due to smartphone costs rising by up to 10% on increasing component prices and the addition of VAT. OEMs are expected to increase smartphone prices by up to another 20% in the coming months."
Bangladesh's smartphone market shipments declined 3% YoY in Q2 2022. The market declined due to soaring inflation and rising commodity prices, which resulted in weakened consumer purchasing power for electronics.
Bangladesh's feature phone shipments declined 12% YoY, mainly due to the shift towards smartphones, which resulted in a 9% YoY decline in the country's overall mobile handset market in Q2 2022. Q2 HMD.