Beijing-headquartered Xiaomi surpassed Apple to become the world’s No. 2 smartphone supplier in the second quarter of the year, research firm Canalys said today.
Xiaomi’s shipments rose by 83% from a year earlier, giving it a 17% global market share, according to Canalys figures.
“Xiaomi is growing its overseas business rapidly,” said Canalys Research Manager Ben Stanton in a statement. “For example, its shipments increased more than 300% in Latin America, 150% Africa and 50% in Western Europe. And as it grows, it evolves. It is now transforming its business model from challenger to incumbent, with initiatives such as channel partner consolidation and more careful management of older stock in the open market.”
“It is still largely skewed toward the mass market, however, and compared with Samsung and Apple, its average selling price is around 40% and 75% cheaper,” Stanton also noted.
Samsung held off Xiaomi with a 19% global market share to keep its No. 1 spot, after its sales increased by 15% from a year ago. Apple slipped to No. 3 due to a tepid 1% rise in sales.
In related news, Xiaomi’s billionaire CEO Lei Jun ranked No. 1 on the new list of China’s top CEOs published by Forbes China today.
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