Xiaomi climbed to second place for the first time ever with a 17 percent share when sales jumped 83 percent.
China-based electronics company Xiaomi has overtaken Apple as the world’s leading smartphone maker in the big market with consumers stemming from the blockades, a new study has found.
A Canalys second-quarter sales survey released Thursday showed smartphone sales rose 12% worldwide, with South Korean Samsung leading the way with a 19% market share.
Xiaomi, meanwhile, finished second for the first time with a 17 percent share, as sales jumped 83 percent, according to Canalys.
Apple fell to third place with iPhone sales of just 1% after rising last year.
“Xiaomi is rapidly expanding its overseas business,” said Canalyst research chief Ben Stanton, citing 300% profits in Latin America, 150% in Africa and 50% in Western Europe.
“And as it grows, it evolves. Now it is transforming its business model from a challenger to the current one … It is still largely prone to the mass market, and compared to Samsung and Apple, its average sales price is about 40% and 75% cheaper . “
According to preliminary estimates by Canalys, Chinese manufacturers Oppo and Vivo ranked fourth and fifth in the world market, each with about 10%.
Canalys said the smartphone market increases profits when the global economy emerges from a coronavirus pandemic, thereby raising overall consumer spending.
Xiaomi was recently removed from the U.S. blacklist of Chinese companies subject to sanctions for national security concerns.