Chinese electronics manufacturer Xiaomi is dropping the name of its most recognizable product series, “Mi”.
From the third quarter of 2021, new additions to the “Mi” product range will feature the name Xiaomi.
Why? Xiaomi is now confident that their products are relevant and identifiable enough not to need additional branding.
As per Verge, “The Mi brand was largely used in Western markets, presumably for readability and pronunciation reasons — phones like the Mi 11 are already called the Xiaomi 11 in China, for example. But Xiaomi evidently believes its company name is now recognizable enough and better represents its products.”
How’s Xiaomi doing?
Things are going really well for Xiaomi as it overtook Apple as the world’s second-largest phone maker during the second quarter of 2021. Xiaomi’s smartphones accounted for 17% of the world’s shipments in Q2 2021, an astounding 83% increase over its sales during Q2 2020.
What drove this growth? Overseas sales. Its shipments increased more than 300% in Latin America, 150% in Africa, and 50% in Western Europe.
Big picture: Over the years Xiaomi has been criticized for copying the design of Apple products but that strategy seems to have worked for it. Coupled with the fact that Xiaomi’s phones are still largely skewed toward the mass market and when compared with Samsung and Apple, its average selling price is around 40% and 75% cheaper respectively.