China's Xiaomi joins world smartphone 'elite club' with sales topping 500 mln

The brand has crossed the 500-million smartphone installed base mark early in the first quarter of 2022, said the global industry analysis firm Counterpoint Research.

"Xiaomi has been a leading force in going beyond China to seek more growth potential as the home market has become mature," Counterpoint Research stated, adding that the brand's successful global expansion is "especially obvious" in India and Europe.

In the first quarter of the year, Xiaomi ranked first in India, occupying 23.2 percent of the market, while in Europe, it was in the third spot with a 12.6-percent market share, data from the report showed.

Xiaomi's smartphone revenue reached 45.8 billion yuan (about 6.79 billion U.S. dollars), and its global smartphone shipments amounted to 38.5 million units in the first quarter, Xiaomi said in a filing with the Hong Kong Stock Exchange.