Xiaomi has been going places with the reputation of the company preceeding it. And while life couldn't have got much more rosy for the China brand, it seems like the company has now successfully overtaken heavyweight LG in becoming the world's No.5 smartphone maker, in terms of market share.
Xiaomi Inc, the three-year old company known as the Apple of China, has been growing over time. The company is already in the news in India following the release of the very popular Mi3 handset. But with the latest report, expect the sales figure for the company to rise two-fold.
Interestingly, three out of the world's top 5 smartphone sellers were Chinese manufacturers in the second quarter, according to Strategic Analytics. Basically, China's low-cost offerings on the Android operating system took quite a chunk away from Samsung's market share.
As a matter of fact, talking about samsung, the South Korean premium handset maker's lead has continued to shrink, the report by Strategy Analytics shows. The South Korean giant saw its share slide to 25.2 percent from 32.6 percent a year ago. In the meantime, Chinese rivals Huawei Technologies Co Ltd and Lenovo Group Ltd have made the most out of the situation.
"Xiaomi's next step is to target the international market in Asia and Europe, where it will have to invest big money to familiarise Western consumers with its unfamiliar brand name," said Strategy Analytics director Woody Oh, who called Xiaomi the star performer in the second quarter.
As of now, LG holds the sixth place in the Strategy Analytics report and fifth place according to IDC estimates. Stay tuned to GizBot for more updates!